Georgia Gulf to redeem remaining 10 3/8% notes

New York, Nov. 21 - Georgia Gulf Corp. said it will redeem all its remaining 10 3/8% senior subordinated notes due 2007 that were not tendered by the expiration of its consent solicitation for the notes.

The redemption affects $68.175 million principal amount of the notes.

The Atlanta chemical company will redeem the notes at 105.188% of the principal amount plus accrued interest on Dec. 21.

Georgia Gulf said on Nov. 17 that by the expiration of its consent solicitation holders of 66% of the $200 million principal amount of the notes had tendered them and consented to the amendments to the indenture.

Holders who tendered by that deadline will receive the purchase price of $1,033.13 per $1,000 principal amount plus a consent payment of $20 per $1,000 principal amount for a total of $1,053.13 plus accrued interest.

The tender offer - under which holders will receive $1,033.13 per $1,000 principal amount - expires on Dec. 2.

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