Brussels, November 22, 2022 - before market opening - Solvay has delivered a notice of early redemption in full to holders of Cytec's US dollar 3.50% senior notes due 2023 guaranteed by Solvay with ISIN / CUSIP US23282AJ97 / 232820AJ9 in an outstanding principal amount of USD 196,086,000. The redemption will be implemented in accordance with the terms and conditions of the bonds.
The redemption date will be January 1, 2023. The redemption price is 100% of the principal amount of the notes to be redeemed on the redemption date, plus accrued and unpaid interest thereon to, but not including, the redemption date (being
USD 1,715,752.50). The paying agent is The Bank of New York Mellon.
Karim Hajjar, CFO of Solvay, commented, "This early redemption will be financed out of existing financial resources and was made possible by the continued strong financial performance and cash generation in particular. Since 2019, the total deleveraging of debt and pensions approaches €3 billion and leverage as of the end of September 2022, was 1.2x, a record low. The continued strengthening of our balance sheet underpins our project to separate into two strong, independent leading companies in the second half of 2023."
Attachment
- 20221122_US Debt redemption_EN (https://ml-eu.globenewswire.com/Resource/Download/7bb9527e-003e-4a8c-8e4f-6007df1bb8c0)
