Styrolution pushes back redemption date for 7 5/8% notes to Sept. 2

By Marisa Wong

Madison, Wis., Aug. 4 – Styrolution Group GmbH said it will redeem all of its outstanding 7 5/8% senior secured notes due 2016 on Sept. 2 instead of Aug. 5 as previously planned.

The company had issued a notice of redemption for its 7 5/8% notes on July 4 stating that the redemption was subject to a refinancing condition.

On Monday the company announced that the refinancing condition has not been satisfied or waived, and, as a result, the conditional redemption will not take place on Tuesday.

The rescheduled redemption is still subject to Styrolution completing one or more financing transactions for the purpose of redeeming the notes, the release noted.

Styrolution is a styrenics supplier based in Frankfurt.

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