Albemarle announces redemption all outstanding 3 pc senior notes
X
Waste Management Expo 2020 MAR 12&13 BIEC, Bengaluru, India

Albemarle announces redemption of all outstanding 3 pc senior notes

10:33 AM, 12th January 2017
Albemarle logo

CHARLOTTE, US: Albemarle Corporation said that it intends to redeem all of its outstanding 3 percent Senior Notes due 2019, issued by it on February 10, 2017.

The notes will be redeemed at a redemption price equal to the greater of

(1) 100 percent of the principal amount of the Notes and

(2) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes (exclusive of interest accrued to the redemption date) from the Redemption Date through the Par Call Date, as defined in the notes (assuming the notes matured on the Par Call Date), in each case discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined in the notes) plus 25 basis points, plus in each case, accrued and unpaid interest on the notes redeemed to, but not including, the redemption date. 

The notes will be repaid with the net proceeds from the company's previously completed sale of its Chemetall Surface Treatment segment.

Holders of any notes in certificated form will be paid the redemption price upon presentation and surrender of their Notes for redemption at the address of the Trustee and Paying Agent indicated below. Notes in book-entry form must be surrendered through the facilities of The Depository Trust Company in the usual manner, and payment of the redemption price will be made through the facilities of The Depository Trust Company in the usual manner.  Notes called for redemption must be so surrendered in order to collect the redemption price.

© Worldofchemicals news

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Ecolab acquires technical services company in US

ST PAUL, US: Ecolab Inc has acquired a privately held technical services company focused on the automotive paint industry, Abednego Environmental Serv ...

Read more
Rosneft, CNPC to increase oil supplies to China

MOSCOW, RUSSIA/ BEIJING, CHINA: Rosneft and China National Petroleum Corporation (CNPC) signed an amendment to the agreement predicting additional sup ...

Read more
Clariant, KBR supply catalyst solutions for Indonesian ammonia plants

MUNICH, GERMANY: Clariant International Ltd said that it is providing total catalyst solutions for two major ammonia production plants in Indonesia, i ...

Read more
CHF appoints former director of British Museum as its new CEO

PHILADELPHIA, US: Chemical Heritage Foundation (CHF), an institution for the history of science has appointed former director of the British Museum, R ...

Read more
Sika acquires waterproofing systems manufacturer in Austria

BAAR, SWITZERLAND: Sika AG said that it is acquiring Bitbau Dorr, a leading waterproofing system manufacturer, headquartered in Innsbruck, Austria. Th ...

Read more
ADM to acquire pet food producer in US

CHICAGO, US: Archer Daniels Midland Company (ADM), a global food processing and commodities trading corporation has signed an agreement to acquire Cro ...

Read more
www.worldofchemicals.com uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X