Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers R > Headlines for Rhodia SA > News item |
Rhodia to redeem 6% euro MTNs with new deal proceeds
New York, Feb. 2 - Rhodia SA said it plans to refinance its €300 million 6% euro medium-term notes due March 2006 with part of the proceeds of an offering of €500 million of 8% senior notes due 2010.
The Paris-based specialty chemicals company will offer all principal and interest due on the 6% notes, discounted at a rate of 50 basis points over the gross redemption yield of the 2.25% BTAN due March 12, 2006. Rhodia will also pay accrued interest up to but excluding the date of repurchase.
Proceeds from the new deal will also be used to redeem at maturity Rhodia's €49 million euro MTNs due May 2005, to fund €44 million of mandatory repayments on capitalized operating leases and to refinance other debt, pay transaction costs and for general corporate purposes.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.