Styrolution to redeem 7 5/8% secured notes due 2016 via new loan

By Tali Rackner

Norfolk, Va., Oct. 2 – Styrolution Group GmbH plans to redeem its existing 7 5/8% senior secured notes due 2016 with the proceeds from a new term loan, according to a press release.

Proceeds will also be used to pay applicable redemption premiums in connection with the redemption, to finance the purchase price of BASF SE and BASF Antwerpen NV’s 50% stake in Styrolution and to pay related fees and expenses.

Styrolution is a Frankfurt-based styrenics supplier.

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