Solvay gives results of tender offer for 1.625% bonds due 2022

By Rebecca Melvin

Concord, N.H., Nov. 30 – Solvay SA gave the results of its Nov. 22 capped tender offer for up to €750 million of its outstanding 1.625% bonds due 2022 (ISIN: BE6282459609) in an announcement.

The company will repurchase all of the €372.5 million of the bonds tendered for 101.601, leaving €377.5 million principal amount outstanding following completion of the offer.

All the bonds repurchased will be canceled.

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

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

The offer expired at 11 a.m. ET on Nov. 29, and settlement is expected on Dec. 2.

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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