Bain Capital is taking plastic maker Trinseo public in an IPO of up to $400 million, The Wall Street Journal reports. Pennsylvania-centered Trinseo may utilize some of the sale proceeds to repay a $1.4 billion term loan, adds Reuters.
The company has appointed 11 banks, including Goldman Sachs, Citi, Deutsche Bank Securities and Barclays Capital, to underwrite the IPO. In 2010, Bain bought Trinseo for $1.63 billion from Dow Chemical, which still has a 7.5% stake in the company.
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