Monitchem 3 conditionally calls €490 million notes due 2025

By Wendy Van Sickle

Columbus, Ohio, April 18 – Monitchem Holdco 3 SA issued a notice of conditional redemption for its €175 million senior secured floating-rate notes due 2025 (ISINs: XS2057886892 and XS2057886975) and €315 million 5.25% senior secured floating-rate notes due 2025 (ISINs: XS2057884921 and XS2057885654), according to a notice.

The redemption date will be the later of April 28 and the calendar date that a financing condition has been met, which is to be no later than 60 days from April 18.

The redemption price will be par plus interest for the floaters and 101.3125 plus interest for the 5.25% notes.

The redemption is conditioned on the issuer having received the necessary funds.

CABB Group announced Monday that it planned to fund the redemption of these notes, along with notes issued by parent company Monitchem Holdco 2 SA with a 2026 maturity date, with the proceeds from a new offering.

CABB is a Sulzbach, Germany-based specialty chemicals company.

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