Solvay starts capped tender offer for 1.625% bonds due 2022

Chicago, Nov. 22 – Solvay SA started a capped tender offer for its €750 million outstanding 1.625% bonds due 2022 (ISIN: BE6282459609), according to an announcement.

The company will repurchase up to €500 million principal amount of the bonds.

The bonds have a residual maturity call option at par starting Sept. 2, 2022.

The notes will be repurchased at a price based on the residual maturity call option date using a fixed purchase yield of negative 50 basis points. Interest will also be paid to the settlement date.

The amount will be recalculated, but the consideration was calculated at 101.601 for information purchases based on an expected Dec. 2 settlement date.

The offer expires at 11 a.m. ET on Nov. 29.

Tenders may be subject to proration.

Solvay has hired HSBC Continental Europe (+44 20 7992 6237, LM_EMEA@hsbc.com) and ING Bank BV (+44 20 7767 6784, liability.management@ing.com) as dealer managers.

Lucid Issuer Services Ltd. is the tender and information agent (+44 20 7704 0880, solvay@lucid-is.com).

Solvay is a Brussels-based chemical manufacturer.

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