Rhodia to use $400 million note proceeds to redeem some floaters

By Jennifer Chiou

New York, Sept. 21 - Rhodia SA announced that it will use the entire net proceeds from its planned $400 million issue of 10-year senior notes to fund the redemption of a portion of its floating-rate senior notes due 2013.

The Paris-based specialty chemicals company noted that the transaction is part of its plan to extend the average maturity of its financial resources.

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