Davis Polk advised the initial purchasers on a Rule 144A/Regulation S offering by Hexion Inc. of $450 million aggregate principal amount of 7.875% senior notes due 2027.

The notes were offered in connection with Hexion’s emergence from proceedings under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.

Based in Columbus, Ohio, Hexion is one of the world’s largest producers of thermosetting resins and a leading producer of coatings, adhesives and specialty resins. Hexion’s products are used in applications such as forest products, architectural and industrial paints, packaging, consumer products, composites and automotive coatings.

The Davis Polk capital markets team included partner Michael Kaplan, counsel Jeffrey S. Ramsay and associates Gil Savir and Alexandros Souris. The restructuring team included partner Eli J. Vonnegut and associate Jacob Weiner. The tax team included partner Rachel D. Kleinberg and associate Tomislava Dragicevic. Counsel Charles Shi provided ERISA advice. Members of the Davis Polk team are based in the New York and Northern California offices.