https://www.avient.com/sites/default/files/2024-04/OnColor Orange Nylon Colorant for EV Connectors Application Bulletin.pdf
Values reported as “typical” or stated without a range do not state minimum or maximum properties; consult your
sales representative for property ranges and min/max specifications.
Processing conditions can cause material properties to shift from the values stated in the information.
LONG-TERM HEAT AGING PERFORMANCE
Heat-aging condition: 130°C, 1,000 hours in PA66/GF/FR compound
0 Hour
Comparison of PA66/GF/NHRF typical
and with OnColor™ AB23447398
500 Hours 1,000 Hours
https://www.avient.com/sites/default/files/2022-11/Avient Announces Third Quarter 2022 Results.pdf
Given the challenging conditions we are facing, I’m incredibly proud of everything we have
accomplished in the last few months,” Mr.
We completed the acquisition of
APM and the sale of our Distribution business, and are using the net proceeds to pay down near-
term maturing debt as previously announced.”
They use words such as “will,” “anticipate,” “estimate,” “expect,” “project,” “intend,”
“plan,” “believe,” and other words and terms of similar meaning in connection with any discussion
of future operating or financial condition, performance and/or sales.
https://www.avient.com/sites/default/files/2020-03/PolyOne_Website-12.19.pdf
They
use words such as “will,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning in
connection with any discussion of future operating or financial performance and/or sales.
In addition, adjusted operating income and adjusted EPS, which exclude the
impact of special items, are components of various PolyOne annual and long-term employee incentive plans.
Sources
Cash from Balance Sheet $465
New Senior Unsecured Notes 650
New Equity 450
Total Sources $1,565
Uses
Clariant Masterbatch $1,500
Clariant India Masterbatch 60
Less: Lease Adjustment (113)
Net Purchase Price $1,447
Net Cash Acquired 57
Fees, Expenses & OID 61
Total Uses $1,565
($ Millions)
Cash and Cash Equivalents $370
$450M Senior Secured ABL Revolver -
Senior Secured Term Loan B due 2026 624
Other Debt 25
Total Senior Secured Debt $649
5.25% Senior Unsecured Notes due 2023 $600
New Senior Unsecured Notes 650
Total Senior Debt $1,899
Net Debt $1,529
New Equity $450
Pro Forma Capitalization (1)
PF 12/31/2019
$450
$600 $624
$743
2019 2020 2021 2022 2023 2024 2025 2026
A T T R A C T I V E F I N A N C I N G S T R U C T U R E
Attractive Debt
Maturity Profile
Existing Revolver Existing Senior Notes Existing Term Loan B
New Debt
Summary
Terms on
New Debt
$465 million of cash from the balance sheet expected to fund a portion of the purchase price
Bridge financing for remainder fully committed from Citi, Morgan Stanley and Wells Fargo
Permanent financing expected to include a combination of long-term debt and new equity
The timing of the permanent financing is subject to a number of factors, including, but not limited
to, market conditions
PolyOne is committed to preserving a strong balance sheet
– Target net leverage at close below 3.5x, excluding synergies
Pro forma capital structure positions PolyOne with flexibility to pursue continued growth strategy
New financing expected to have same or better covenant package than existing capital structure
Capital structure would be “covenant lite”
Capital
Policy
Transaction in line with PolyOne’s disciplined capital allocation policy
Existing PolyOne dividend policy to be maintained
Focus on deleveraging in the near term
2028+
PolyOne Corporation 26
PolyOne Corporation 27
T H E N E W P O L Y O N E : A S P E C I A L T Y G R O W T H C O M P A N Y
Landmark portfolio transformation: > 85% of Adjusted EBITDA
from specialty solutions
World-class innovation, technology and service are differentiators
Sustainability initiatives and alignment with megatrends drive
above market growth in key end markets and applications:
Capital management is a strength - proven track record of
expanding ROIC while increasing invested capital
Transaction expected to add $0.85 to pro forma adjusted EPS
PolyOne Corporation 28
PolyOne Corporation 29
https://www.avient.com/sites/default/files/2022-11/AVNT Q3 2022 Earnings Presentation - Website Final.pdf
They use words such as "will," “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,”
“believe” and other words and terms of similar meaning in connection with any discussion of future operating or financial condition, performance and/or sales.
In particular, these include statements relating to future actions; prospective changes in raw
material costs, product pricing or product demand; future performance; estimated capital expenditures; results of current and anticipated market conditions and market strategies; sales efforts; expenses; the outcome of contingencies such as legal
proceedings and environmental liabilities; and financial results.
In addition, operating
income before the effect of special items is a component of Avient’s annual and long-term employee incentive plans and is used
in debt covenant computations.
https://www.avient.com/sites/default/files/resources/PolyOne%25202017%2520Proxy%2520Statement.PDF
The Compensation Committee may, from time to time and upon such
terms and conditions as it may determine, authorize the grant or sale of Restricted Stock to Participants.
The Compensation Committee may, from time to time and upon
such terms and conditions as it may determine, authorize the granting or sale of Restricted Stock Units to
Participants.
The Compensation Committee shall determine the terms and conditions of such awards.
https://www.avient.com/sites/default/files/2022-05/AVNT May IR Presentation w Non GAAP Recs.pdf
They use words such as "will," “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe” and other words and terms of
similar meaning in connection with any discussion of future operating or financial condition, performance and/or sales.
In particular, these include statements relating to future actions; prospective changes in raw material costs, product
pricing or product demand; future performance; estimated capital expenditures; results of current and anticipated market conditions and market strategies; sales efforts; expenses; the outcome of contingencies such as legal proceedings
and environmental liabilities; and financial results.
In addition, operating
income before the effect of special items is a component of Avient’s annual and long-term employee incentive plans and is used
in debt covenant computations.
https://www.avient.com/investor-center/news/polyone-announces-fourth-quarter-and-full-year-2016-results
They use words such as "will," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial condition, performance and/or sales.
Short-term and current portion of long-term debt
Short-term and current portion of long-term debt
https://www.avient.com/sites/default/files/2023-03/Avient Annual Report 2022.pdf
The other terms and conditions that apply to the 2029 Term Loan are
substantially the same as the terms and conditions that applied to the existing term loan under the Credit Agreement
immediately prior to the Term Loan Amendment.
Rebates are estimated based on sales terms, historical experience along with annual sales projections.
The
other terms and conditions that apply to the 2029 Term Loan are substantially the same as the terms and conditions
that applied to the existing term loan under the Credit Agreement immediately prior to the Term Loan Amendment.
https://www.avient.com/sites/default/files/AVNT February IR Presentation_w_Non-GAAP Recs.pdf
They use words such as "will," “anticipate,” “estimate,” “expect,”
“project,” “intend,” “plan,” “believe” and other words and terms of similar meaning in connection with any discussion of future operating or financial condition, performance and/or sales.
In particular, these include statements relating to future actions;
prospective changes in raw material costs, product pricing or product demand; future performance; estimated capital expenditures; results of current and anticipated market conditions and market strategies; sales efforts; expenses; the outcome of
contingencies such as legal proceedings and environmental liabilities; and financial results.
ASHISH KHANDPUR
PRESIDENT & CEO
7
8
PORTFOLIO TRANSFORMATION
8
46%
66%
87%
100%
0%
20%
40%
60%
80%
100%
2005 2010 2015 2020 2023
%
o
f A
dj
us
te
d
EB
IT
D
A
Commodity JVs Distribution Performance Products & Solutions Specialty Businesses
Adjusted EBITDA from Specialty Applications
SUSTAINABILITY AS A GROWTH DRIVER
9
LONG-TERM REVENUE GROWTH DRIVERS
Sustainable
Solutions
Composites, Healthcare,
Asia / LATAM
Overlap
Other
60%+
Key Growth
Drivers
Total Company Revenue
Growth Drivers Long-Term
Growth Rate
Sustainable Solutions 8–12%
Composites 8–10%
Healthcare 8–10%
Asia / LATAM 5%
Other 0–2%
Avient 6%
END MARKET OBSERVATIONS
(% OF COMPANY SALES)
ENERGY
DEFENSE
TELECOMMUNICATIONS
HEALTHCARE
10
TRANSPORTATION
INDUSTRIAL
BUILDING &
CONSTRUCTION 9%
CONSUMER
PACKAGING
23%
11
REGIONAL OBSERVATIONS
(% OF COMPANY SALES)
11
Q 4 2023 RE S U LT S
Q4 2023 PERFORMANCE VS.
https://www.avient.com/investor-center/news/polyone-announces-first-quarter-2017-results
They use words such as "will," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial condition, performance and/or sales.
Short-term and current portion of long-term debt
Long-term debt