HOUSTON, Dec. 11, 2012 (GLOBE NEWSWIRE) -- TPC Group Inc. (Nasdaq:TPCG), a leading fee-based processor and service provider of value-added products derived from niche petrochemical raw materials, announced today that it priced $655,000,000 aggregate principal amount of its 8.75% Senior Secured Notes due 2020 (the "Notes") in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The Notes will be guaranteed on a senior secured basis by all of TPC Group Inc.'s existing or future direct and indirect domestic subsidiaries that guarantee obligations under its new senior secured asset-based revolving facility. This offering is being made in connection with the proposed acquisition of TPC Group Inc. by entities affiliated with First Reserve Management, L.P. and SK Capital Partners (collectively, the "Sponsors"). The net proceeds from this offering will be used to finance in part the acquisition of TPC Group Inc. by the Sponsors, the repayment of its existing debt, the payment of fees and expenses in connection with such transactions and for certain strategic capital projects.
TPC Group Announces Pricing Of $655 Million Senior Secured Notes Due 2020
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