Ashland redeems remaining $78 million 9 1/8% notes due 2017 at 104.563

By Susanna Moon

Chicago, June 3 - Ashland Inc. redeemed the remaining $78 million of outstanding 9 1/8% senior notes due June 1, 2017, according to an 8-K filing with the Securities and Exchange Commission.

The notes were redeemed at $1,045.63 per $1,000.00 principal amount plus accrued interest up to, but excluding, the redemption date of June 1.

Ashland said on Aug. 3, 2012 that investors tendered $572 million, or about 88%, of the outstanding $650 million principal amount of 9 1/8% notes by the end of the offer at midnight ET on Aug. 2.

As noted at the time, the company offered to pay $1,113.75 for each $1,000 principal amount of notes.

Holders also received accrued interest to but not including settlement on Aug. 7.

The company previously said it may purchase the notes from time to time after the offer ends in the open market, in privately negotiated transactions or through tender offers.

Ashland is a global specialty chemical company based in Covington, Ky.

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