Chemtura to redeem all $164.8 million floaters, reduce revolver borrowings

By Jennifer Chiou

New York, April 18 - Chemtura Corp. announced it will use some of the proceeds from a $400 million senior notes due 2016 offering to fund the redemption of all $164.8 million of its senior floating-rate notes.

Proceeds will also go towards the reduction of borrowing under the company's revolving credit facility.

Chemtura is a Middlebury, Conn.-based manufacturer and marketer of specialty chemicals, crop protection and pool, and spa and home care products.

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