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NOVA Chemicals calls 9.04%, 9½% preferred securities
New York, Jan. 20 - NOVA Chemicals Corp. (Ba2/BB+) said that it has called for redemption all of its outstanding $210 million 9½% preferred securities due 2047 and all of its $172.5 million of outstanding 9.04% preferred securities due 2048. They will be redeemed on March 1.
Holders of the 9½% securities will receive $1,015.83 per $1000 principal amount, a sum which includes accrued and unpaid interest up to the redemption date. Holders of the 9.04% securities will receive $1,015.07 per $1000 principal amount, which also includes accrued and unpaid interest to the redemption date.
The redemption transaction is being handed by Bank One Trust Co., NA (800 346-5153 or 800 524-9472, by fax at 312 407-8853, or at bondholder@bankone.com).
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