Univar Inc. Prices Initial Public Offering of Common Stock
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June 18, 2015 2:51 PM EDT
Key points:
Univar Inc. has completed its initial public offering (IPO) and is now issuing debt as part of a recapitalization.We are affirming our 'B+' corporate credit rating on the company.We are also assigning our 'BB-' issue-level and '2' recovery rating to the company's proposed $2.05 billion and 250 million term loans.At the same time, we are assigning our 'B' issue-level and '5' recovery rating to the company's proposed $400 million senior unsecured notes.The stable outlook reflects our expectation that the company's recent IPO and subsequent debt...
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June 18, 2015 10:18 AM EDT
Univar Inc. (NYSE: UNVR) opens for trading at $24.10 after pricing its 35 million common stock IPO at $22 per share.
The underwriters have a 30-day option to purchase up to an additional 5,250,000 shares of common stock from certain of our... More
