Unigel Completes Inaugural $200 Million Bond Offering of Senior Secured Notes
05.29.18
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Simpson Thacher represented Unigel Luxembourg S.A. (“Unigel”), a wholly owned financing subsidiary of Unigel Participações S.A., in connection with its inaugural bond offering of $200 million aggregate principal amount of 10.5% Senior Secured Notes due 2024 pursuant to Rule 144A and Regulation S, which closed on May 22, 2018. The notes are secured by the fiduciary assignment of certain real estate property and equipment owned by certain of Unigel’s subsidiaries. Unigel intends to use the net proceeds to repay certain outstanding indebtedness and for general corporate purposes.
Unigel is the largest acrylics and styrenics company in Latin America, in terms of nominal production capacity, and operates several chemical plants in Brazil and Mexico. Unigel was founded in 1966, when it started production of thermoplastic resins with proprietary technology. It grew over the past decades to become a vertically integrated chemicals company that produces a diversified portfolio of chemical, petrochemical, plastic products and fertilizers.
The Simpson Thacher team included Grenfel S. Calheiros, Jaime Mercado, Paulo Cardoso, Marcelo B. Lorenzen and Thais Gasparian (Capital Markets); and Jonathan Cantor and Brian Mendick (Tax).