Brief: Solvay Acquires EUR 372.5 Mln Of Senior Debt

Solvac SA

30/11/2021 07:39

Nov 30 (Reuters) - SOLVAY SA  SOLB.BR :
    * CONTINUES ITS DELEVERAGING THROUGH THE EARLY REDEMPTION OF
BONDS
DUE IN 2022
    * SOLVAY ANNOUNCES RESULTS OF ITS TENDER OFFER TO PURCHASE
BONDS
FOR CASH
    * CLOSED THE TENDER OFFER ON ITS OUTSTANDING EUR 750 MILLION
1.625% BONDS DUE 2022, BY ACQUIRING €372.5 MILLION OF SENIOR
DEBT
    * THIS CASH GENERATION ALLOWED SOLVAY TO CONTINUE PAYING
COMPELLING DIVIDENDS EVEN DURING THE COVID CRISIS OF 2020, AND
IT HELPED TO FUND A €2.4 BILLION REDUCTION IN DEBT AND PENSIONS
    * ADDITIONAL STEPS ARE PLANNED TO FURTHER DELEVER PENSIONS
BY €0.3
BILLION IN THE NEXT MONTHS
    * FOLLOWING CLOSING OF TENDER OFFER ON NOVEMBER 29, 2021,
ISSUER
PUBLISHES RESULTS OF BUYBACK OPERATION RELATED TO ITS EUR
750,000,000 1.625% DUE 2022

Source text for Eikon:  ID:nGNE65D5Wb 
Further company coverage:  SOLB.BR 

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