Rhodia calls €424 million of notes

By Angela McDaniels

Seattle, Jan. 26 - Rhodia SA said it has called 35% of its 10¼% dollar-denominated senior notes and 10½% euro-denominated senior notes, both due in 2010.

The company also called 21.6% of its 8 7/8% dollar-denominated senior subordinated notes and 9¼% euro-denominated senior subordinated notes, both due in 2011.

The Paris-based specialty chemicals company said it used €424 million from its €604 million rights issue in 2005 to complete the early redemption, which will allow the company to reduce its annual interest costs by roughly €38 million.

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