Synthomer’s €520 Million High Yield Bond


Shearman & Sterling represented Synthomer plc on the offering.

Synthomer plc executed its inaugural high yield bond offering of €520 million 3.875% senior notes due 2025.

The proceeds of the offering were used to repay borrowings under Synthomer’s 2019 bridge facilities, which, together with certain other funding, financed the acquisition of OMNOVA Solutions Inc., and to pay certain costs, fees and expenses related to the offering. The offering, which was conducted pursuant to Rule 144A and Regulation S under the U.S. Securities Act, closed on June 25, 2020.

Synthomer is a global speciality chemicals company and one of the world’s leading suppliers of water-based polymers with a plant network of 38 plants in 24 countries and approximately 4,750 employees worldwide. Synthomer is listed on the London Stock Exchange and its shares are included in the FTSE 250.

Shearman & Sterling represented Synthomer with Ward Mckimm (Picture), Gordon Houseman, Oscar Lopez, Kristen Garry, Simon Letherman, Philip Stopford, Eunjee Chae, Molly Harding, Patrick Clarke, and Alex Despotovic.

Involved fees earner: Eunjee Chae – Shearman & Sterling; Patrick Clarke – Shearman & Sterling; Kristen Garry – Shearman & Sterling; Molly Harding – Shearman & Sterling; Gordon Houseman – Shearman & Sterling; Simon Letherman – Shearman & Sterling; Oscar Lopez – Shearman & Sterling; Ward McKimm – Shearman & Sterling; Philip Stopford – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Synthomer plc;