Italmatch Chemicals will redeem secured notes due 2024 on Feb. 7

By Mary-Katherine Stinson

Lexington, Ky., Feb. 7 – Italmatch Chemicals SpA said the conditions for the full redemption of its outstanding €650 million senior secured floating-rate notes due 2024 (ISIN XS1883354976, XS1883354893) have been satisfied and the redemption would proceed on Feb. 7, according to a notice.

The Rule 144A and Regulation S notes were set to be redeemed at par plus accrued interest from Dec. 31 totaling €4,180,354.72 for notes not tendered in the company’s recent exchange offer. Additional amounts, if any, will also be paid.

The redemption was conditioned upon the completion of the company’s refinancing that provides sufficient funds to fund the redemption. On Feb. 6, which was three business days prior to a new notes issue, €70.92 million of Italmatch notes were tendered in an exchange offer. This satisfied the financing condition for the redemption.

U.S. Bank Trustees Ltd. is the trustee.

Elavon Financial Services DAC, UK Branch is the paying agent.

Italmatch is a Genoa, Italy-based chemical company.

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