Davis Polk advised the initial purchaser on a Rule 144A/Regulation S offering by Hexion Inc. in connection with an add-on offering of $75 million aggregate principal amount of its 10.375% first-priority senior secured notes due 2022. The notes are a reopening of an offering of $485 million done in February 2017.

Based in Columbus, Ohio, Hexion Inc. is the world’s largest producer of thermosetting resins and a producer of adhesive and structural resins and coatings. 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 Andrew J. Terjesen and Bria J.M. Cunningham. The Davis Polk credit team included partner Kenneth J. Steinberg and associate Jonathan B. Brown. The tax team included partner Rachel D. Kleinberg and associate Jonathan Atkins. Counsel Betty Moy Huber and associate Yuko Masunaga provided environmental advice. Members of the Davis Polk team are based in the New York and Northern California offices.

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