Ashland secures necessary consents to amend notes due 2018, 2022, 2043

By Wendy Van Sickle

Columbus, Ohio, Oct. 20 – Ashland Global Holdings Inc. said it received the requisite consents from holders of Ashland LLC’s 3 7/8% senior notes due 2018, 4¾% senior notes due 2022 and 6 7/8% senior notes due 2043 to make some amendments to the reporting covenants in the indentures governing the notes.

The consent solicitation expired at 5 p.m. ET on Tuesday.

At the expiration time, Ashland had received the consents needed to approve its proposed amendments to the indentures governing the notes, and the issuer has since entered into a supplemental indenture for each series of notes, according to a press release.

The supplemental indentures modify the reporting covenants to provide that so long as any parent entity of Ashland LLC guarantees the notes, the reports, information and other documents required to be filed and furnished to holders of the notes may, at the option of Ashland LLC, be filed by and be those of the parent entity rather than Ashland LLC.

Also, the supplemental indentures provide for the guarantee of the notes by Ashland Global Holdings.

Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106) acted as solicitation agent.

Global Bondholder Services Corp. (866 470-4500 or 212 430-3774) acted as information and tabulation agent.

Based in Covington, Ky., Ashland Global Holdings is a global specialty chemicals company serving customers in a range of consumer and industrial markets, including adhesives, architectural coatings, automotive, construction, energy, food and beverage, personal care and pharmaceutical.

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