Pioneer to redeem floating-rate notes with stock offering proceeds

By Caroline Salls

Pittsburgh, Dec. 1 - Pioneer Cos. Inc. said it will redeem a portion of its outstanding senior secured floating-rate guaranteed notes due 2006 and senior floating-rate term notes due 2006 using proceeds from its offering of 1 million shares of Pioneer common stock.

Pioneer is a Houston-based manufacturer of chlorine, caustic soda, bleach, hydrochloric acid and related products.

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