Brief: Solvay Completes Liability Management Process

Solvac SA

27/09/2023 17:33

Sept 27 (Reuters) - Solvay  SOLB.BR :
    * SOLVAY ANNOUNCED TODAY THAT IT INTENDS TO EXERCISE ITS
ISSUER
MAKE-WHOLE CALL OPTION UNDER TERMS OF INDENTURE GOVERNING 4.450%
SENIOR NOTES DUE 2025 ISSUED BY SOLVAY FINANCE, LLC FOR AN
AMOUNT OUTSTANDING OF USD 800,000,000 AND GUARANTEED BY COMPANY
    * ADDITIONAL FUNDING COST FOR ANTICIPATED LONG-TERM
REFINANCING OF
USD 2025 BONDS IS ESTIMATED AT APPROXIMATELY EUR 10 MILLION PER
YEAR (AFTER TAX) OVER NEXT TWO YEARS
    * 3.95% SENIOR NOTES DUE 2025 ISSUED BY CYTEC INDUSTRIES
INC. WILL
REMAIN OUTSTANDING FOR AN AMOUNT OF USD 163,495,000, AS
CURRENTLY
    * DECISIONS ON US BONDS MARK FINAL STEPS OF SOLVAY'S
LIABILITY
MANAGEMENT PROCESS THAT BEGAN IN AUGUST 2023 IN PREPARATION OF
SOLVAY'S PLANNED SEPARATION INTO TWO INDEPENDENT SPECIALTY
HOLDCO BELGIUM AND ESSENTIALCO

Source text for Eikon:  ID:nGNEb5HZWV 
Further company coverage:  SOAC.BR 

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