Rhodia plans early redemption of 9¼%, 8 7/8%, 8%, 7 5/8% notes

By Jennifer Chiou

New York, April 20 - Rhodia SA announced plans to redeem its €235 million of 9¼% senior subordinated notes due 2011, $302 million of 8 7/8% senior subordinated notes due 2011, €97 million of 8% senior notes due 2010 and $3 million of 7 5/8% senior notes due 2010.

The Courbevoie, France-based specialty chemicals company said it will use proceeds from a €595.125 million offering of bonds convertible and/or exchangeable for new or existing shares to fund the early redemption.

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