Albemarle announces redemption of all outstanding 4.625% senior notes due 2020

September 14, 2015

BATON ROUGE, La., Sept. 14, 2015 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), announced today that its wholly-owned subsidiary, Rockwood Specialties Group, Inc. ("RSGI"), intends to redeem $1.25 billion of the 4.625% Senior Notes due 2020 (CUSIP No. 774477AJ2) issued by RSGI (the "Notes"), representing all of the outstanding Notes. The Notes will be redeemed at a redemption price currently estimated to be 103.469% of the principal amount of the Notes, plus accrued and unpaid interest to the redemption date, which is expected to be on October 15, 2015. The Notes will be repaid with the proceeds of a new term loan credit facility.

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The Notes are fully and unconditionally guaranteed, jointly and severally, on an unsecured and unsubordinated basis by Albemarle Corporation and Rockwood Holdings, Inc. The guarantees of the Notes and guarantees on other notes issued by Albemarle in 2014 will be released when the Notes are repaid.

RSGI has instructed Wells Fargo Bank, National Association, as the trustee for the Notes, to distribute a Notice of Redemption to all registered holders of the Notes on September 15, 2015. Copies of such Notice of Redemption and additional information relating to the procedure for redemption of the Notes may be obtained from Wells Fargo Bank, National Association by calling 1-800-344-5128.

The Notes will be repaid with the proceeds of a new term loan credit facility, comprised of a 364-day term loan facility in an aggregate principal amount of $300 million (the "364-Day Facility") and a five-year term loan facility in an aggregate amount of $950 million (the "Five-Year Facility"). The interest rates on the 364-Day Facility and the Five-Year Facility will be LIBOR plus 1.000% to 1.875% depending upon Albemarle's public long-term, unsecured, senior, non-credit enhanced debt ratings. The initial interest rate on both facilities is expected to be LIBOR plus 1.375%. 

The bank syndicate supporting the term loan credit facility has been led by JPMorgan Chase Bank, N.A. as Administrative Agent, Bank of America, N.A., BNP Paribas and Wells Fargo Bank, N.A.

This announcement does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Albemarle
Albemarle Corporation, headquartered in Baton Rouge, Louisiana, is a premier specialty chemicals company with leading positions in attractive end markets around the world. With a broad customer reach and diverse end markets, Albemarle develops, manufactures and markets technologically advanced and high value added products, including lithium and lithium compounds, bromine and bromine derivatives, catalysts and surface treatment chemistries used in a wide range of applications including consumer electronics, flame retardants, metal processing, plastics, contemporary and alternative transportation vehicles, refining, pharmaceuticals, agriculture, construction and custom chemistry services. Albemarle is focused on delivering differentiated, performance-based technologies that deliver innovative and sustainable solutions to its customers. The Company employs approximately 6,900 people and serves customers in approximately 100 countries. Albemarle regularly posts information to, including notification of events, news, financial performance, investor presentations and webcasts, Regulation G reconciliations, SEC filings and other information regarding the Company, its businesses and the markets it serves.

Caution Regarding Forward-Looking Information and "Safe Harbor" Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, the redemption of the Notes [and the entry into a new term loan credit facility]. Forward-looking statements may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in our most recent annual and quarterly reports and detailed from time to time in our other filings with the Securities and Exchange Commission, which risks and uncertainties are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. We undertake no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes, except as required by law. 

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SOURCE Albemarle

Media Contact: Ashley Mendoza, (225) 388-7137, [email protected] or Investor Relations Contact: Matt Juneau, (225) 388-7340, [email protected]

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