News
Albemarle Corporation Announces Pricing of Maximum Tender Offers
January 19, 2017
The table below sets forth the information as to pricing and Total Consideration (as defined below) for the Maximum Tender Offers.
Up to the
of the Outstanding Notes Listed Below
Title of Security |
CUSIP/ISIN Number |
Principal Amount Outstanding |
Acceptance Priority Level |
U.S. Treasury Reference Security/ Interpolated Rate |
Bloomberg Reference Page |
Fixed Spread |
Early Tender Payment |
Principal Amount Tendered |
Total Consideration (b) |
1.875% senior notes due 2021 |
ISIN: XS1148074518 |
€700,000,000 |
1 |
Interpolated Mid-Swap Rate |
ICAE1 |
35 bps |
€30.00 per €1,000 (b) |
€533,330,000 |
€ 1,067.85 |
4.150% senior notes due 2024 |
CUSIP: 012725AC1 ISIN: US012725AC13 |
$425,000,000 |
2 |
2.00% U.S.T. due 11/15/26 |
PX1 |
85 bps |
N/A (c) |
$229,435,000 |
N/A (c) |
(a) |
The Maximum Tender Offers are subject to an Aggregate Maximum Repurchase Amount of $325,215,000, which was calculated as $500,000,000 (converted into U.S. Dollars where applicable as described in the Offer to Purchase, as defined below) principal amount less the $174,785,000 aggregate principal amount of its 4.500% senior notes due 2020 that were validly tendered and accepted for purchase in the offers to purchase for cash any and all of its outstanding 3.000% senior notes due 2019 and 4.500% senior notes due 2020. The Company has allocated the Aggregate Maximum Repurchase Amount for purchase of Maximum Tender Offer Notes as more fully set forth herein. |
(b) |
Per €1,000 principal amount, as described below. The Total Consideration (as defined below) for the 2021 Notes validly tendered prior to or at the Early Tender Date (as defined below) and accepted for purchase is calculated using the fixed spread therefor referenced in the above table, and is inclusive of an amount in cash equal to the amount set forth in the table above under the heading "Early Tender Payment". |
(c) |
The 2024 Notes will not be accepted for purchase. |
The "Total Consideration" listed in the table above for each €1,000 principal amount of the 2021 Notes was determined at
As of the Early Tender Date, according to information provided by
The Maximum Tender Offers will expire at
Albemarle will fund the Maximum Tender Offers with the net proceeds from the previously completed sale of its Chemetall Surface Treatment segment. The Maximum Tender Offers are being made to reduce the Company's outstanding debt.
Information Relating to the Tender Offers
BofA Merrill Lynch is the Sole Dealer Manager for the tender offers. Investors with questions regarding the tender offers may contact the Sole Dealer Manager at (888) 292-0070 (U.S. toll-free), (980) 387-3907 (collect) or +44-20-7996-5420 (
This press release is for informational purposes only and is not an offer to buy, or the solicitation of an offer to sell, any of the above-referenced securities and the tender offers do not constitute offers to buy or the solicitation of offers to sell securities in any jurisdiction or in any circumstances in which such offers or solicitations are unlawful. The full details of the tender offers, including complete instructions on how to tender securities, are included in the Tender Offer Documents. Holders are strongly encouraged to read carefully the Tender Offer Documents, including materials incorporated by reference therein, because they contain important information.
About Albemarle
Discovering and implementing new and better performance-based sustainable solutions is what motivates all of us. We think beyond business-as-usual to drive innovations that create lasting value. Albemarle employs approximately 4,100 people and serves customers in approximately 100 countries. We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations,
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks include, but are not limited to, the Company's ability to complete either of the Maximum Tender Offers and reduce its outstanding indebtedness and the other risks identified in the Offer to Purchase, the Company's Annual Report on Form 10-K and its other filings with the
To view the original version on PR Newswire, visit:https://www.prnewswire.com/news-releases/albemarle-corporation-announces-pricing-of-maximum-tender-offers-300393949.html
SOURCE
Media Contact: Susan Richardson, (980) 299-5672, Susan.Richardson@albemarle.com; or Investor Relations Contact: Matt Juneau, (225) 388-7940, Matt.Juneau@albemarle.com
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