https://www.avient.com/sites/default/files/2025-01/OnForce LFT-Truck Foot Pedal-Case study Snapshot.pdf
AVIENT SOLUTION
PRE-COLOR + METAL REPLACEMENT
LEARN MORE
Copyright © 2025, Avient Corporation.
https://www.avient.com/sites/default/files/2025-05/Versaflex TPE-snorkel mouthpiece- case study snapshot.pdf
SPORTS BRAND
S N O R K E L M O U T H P I E C E
• Replace PVC with alternative materials such as TPE or
silicone
• Skin contact safety and UV resistance
• Soft texture with a non-sticky feel
• Translucent color to help children use it properly and
safely
• Customized a soft (Shore A) TPE solution that
passed strict tests, including thermal
deformation (80°C for 2 hours), UV resistance,
and assembly resistance
• Providing a 40% more cost-effective system
than silicone due to the high production
efficiencies of TPEs
• Provided cross-regional cooperation and prompt
response to help customers achieve fast
commercialization in both Europe and China
Versaflex Thermoplastic Elastomers
UV RESISTANT + TRANSLUCENT
Copyright © 2025, Avient Corporation.
https://www.avient.com/sites/default/files/2020-03/PolyOne_Website-12.19.pdf
Richardson
Executive Vice President and
Chief Financial Officer
PolyOne Corporation 4
PolyOne Corporation 5
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
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
Integrity
V I S I O N
PolyOne Corporation 6
To be the world’s
premier provider of
specialized polymer
materials, services and
solutions
C O R E
V A L U E S
P E R S O N A L
V A L U E S
Honesty Respect
Operational
Commercial
Specialization
Globalization
Collaboration ExcellenceInnovation
To be the world’s
premier provider of
sustainable, specialty
polymer materials and
solutions.
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/investor-center/news/avient-announces-pricing-650-million-6250-senior-notes-due-2031
intends to use the net proceeds from the offering, together with cash on hand, to redeem all of its outstanding 5.75% senior notes due 2025 (the "2025 senior notes") and pay related fees and expenses.
This news release does not constitute a notice of redemption pursuant to the terms of the 2025 senior notes.
https://www.avient.com/investor-center/events/q3-avient-corporation-earnings-conference-call-0
May 06, 2025
Feb 13, 2025
https://www.avient.com/investor-center/events/q1-2017-polyone-corporation-earnings-conference-call
May 06, 2025
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https://www.avient.com/investor-center/events/q4-2010-polyone-corporation-earnings-conference-call
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https://www.avient.com/investor-center/events/q1-2022-avient-corporation-conference-call-and-acquisition-dsm-protective-materials-dyneema
May 06, 2025
Feb 13, 2025
https://www.avient.com/investor-center/events/polyone-corporation-keybanc-capital-markets-basic-materials-and-packaging-conference
May 06, 2025
Feb 13, 2025
https://www.avient.com/investor-center/events/q1-2018-polyone-corporation-earnings-conference-call
May 06, 2025
Feb 13, 2025