Olin plans to call all $185 million 10% senior notes due 2025

By Marisa Wong

Los Angeles, April 14 – Olin Corp. said it notified bondholders that it intends to redeem all $185 million of its outstanding 10% senior notes due Oct. 15, 2025.

The notes are expected to be redeemed on May 14 at 105.

Olin expects to fund the redemption using $195 million of cash generated from operations.

“The $185 million redemption of the high-cost bonds reflects our strategy to utilize excess cash flow to lower our debt levels,” Scott Sutton, president and chief executive officer, said in a press release.

“We expect that the redemption will reduce annual interest expense by approximately $19 million.

Olin is a Clayton, Mo.-based global manufacturer and distributor of chemical products and a U.S. manufacturer of ammunition.

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