Albemarle plans to redeem all 4.15% senior notes due 2024

By Wendy Van Sickle

Columbus, Ohio, May 13 – Albemarle Corp. will redeem all its outstanding 4.15% senior notes due 2024 (Cusip: 012725AC1) on June 12, according to a news release.

The redemption price will be the greater of par and par plus the sum of the present values of the remaining scheduled payments of principal and interest on the notes discounted at Treasuries plus 30 basis points.

The redemption will be funded with proceeds of Albemarle's $1.7 billion of new senior notes.

U.S. Bank Trust Co., NA is the trustee and paying agent.

Albemarle is a Charlotte, N.C., specialty chemicals company.

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