U.S. materials manufacturer, Styron, is seeking a $1.3 billion term loan for a payout to its private equity owner, Bain Capital, Bloomberg reports. The Pennsylvania-based company plans to use the remaining to refinance debt. Deutsche Bank, HSBC Holdings, Barclays and Bank of Montreal are arranging the loan that matures in 6.5 years. Massachusetts-based Bain Capital invested $643 million in Styron’s $1.63 billion LBO last year.

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