PolyOne launches cash tender offer for 8 7/8% senior notes due 2012

By Marisa Wong

Madison, Wis., Sept. 10 - PolyOne Corp. announced that it has started a cash tender offer for any and all of its outstanding 8 7/8% senior notes due 2012.

There is approximately $280 million principal amount of the notes outstanding.

The tender offer will expire at 8 a.m. ET on Oct. 8, unless extended or terminated earlier by the company.

Notes tendered on or prior to 5 p.m. ET on Sept. 23, the early tender date, will be entitled to a total consideration of $1,100 per $1,000 principal amount of notes validly tendered. The total consideration consists of the tender offer consideration of $1,070 plus an early tender payment of $30.

Notes tendered after the early tender date but on or prior to the expiration time will be entitled to the $1,070 tender offer consideration per $1,000 principal amount of notes.

PolyOne said it will pay accrued interest up to, but excluding, the payment date for notes accepted for purchase.

Banc of America Securities LLC (980 388-9217 or 888 292-0070) and Morgan Stanley & Co. Inc. (212 761-5384 or 866 624-1808) are the dealer managers for the tender offer, and Global Bondholder Services Corp. (866 470-4300) is the information agent and depositary for the offer.

Based outside of Cleveland, PolyOne is a provider of specialized polymer materials, services and solutions.

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