LSB Industries to price $20 million of convertibles

By Rebecca Melvin

Princeton, N.J., Dec. 14 - LSB Industries Inc. plans to price up to $20 million of unsecured senior subordinated debt, convertible into LSB's common stock, the company said in a release.

Proceeds of the offering will be used primarily to repay existing debt.

The deal will be sold under Rule 144A.

Oklahoma City-based LSB is a manufacturer and marketer of climate control products.

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