Monitchem unit to redeem floaters due 2021 and 5¼% notes due 2021

By Sarah Lizee

Olympia, Wash., Sept. 23 – Monitchem Holdco 3 SA plans to redeem its €175 million senior secured floating-rate notes due 2021 and its €235 million 5¼% senior secured notes due 2021, according to a conditional notice of redemption.

The redemptions are subject to a financing condition. Monitchem Holdco 3 and Monitchem Holdco 2 SA announced plans to price senior notes due 2025 and 2026. Proceeds from the new notes will be partly used for the redemptions.

The redemptions will be on the later of Oct. 7 and, if the financing condition has not been satisfied by then, the calendar day of the satisfaction or waiver of the financing condition.

The notes will be redeemed at par plus any accrued interest to but excluding the redemption date.

Monitchem is the parent holding company of the Cabb Group, a Taunus, Germany-based supplier of chemical building blocks based on chlorine and sulfur.

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