Ashland Inc. announces offering of senior notes
(Thomson Reuters ONE) -
February 20, 2013
COVINGTON, Ky. - Ashland Inc. (NYSE: ASH) today announced its intention to offer
up to an aggregate of $2.3 billion in principal amount of senior notes comprised
of the following tranches: (i) senior notes due 2016, (ii) senior notes due
2018, (iii) senior notes due 2022 and (iv) senior notes due 2025 (collectively,
the Notes). The senior notes due 2016, the senior notes due 2018 and the senior
notes due 2025 will each constitute a new series of senior notes. The senior
notes due 2022 are being offered as additional notes under Ashland's existing
indenture, dated August 7, 2012, pursuant to which Ashland previously issued
$500.0 million aggregate principal amount of 4.750% senior notes due 2022, and
will form a single series of notes with the existing 4.750% senior notes due
2022. The Notes will be unsecured, unsubordinated obligations of Ashland.
Ashland intends to use the net proceeds of the offering (after deducting initial
purchasers' discounts and other fees and expenses), together with cash on hand,
to prepay a significant portion of the outstanding loans under its senior
secured credit facility, to pay costs and expenses relating to such prepayment,
including accrued and unpaid interest thereon, and to pay costs associated with
terminating certain interest rate swaps entered into in connection with its
senior secured credit facility.
The Notes will be offered in the United States to qualified institutional buyers
pursuant to Rule 144A under the Securities Act of 1933, as amended (the
Securities Act), and outside the United States pursuant to Regulation S under
the Securities Act. The Notes have not been registered under the Securities Act
and may not be offered or sold in the United States without registration or an
applicable exemption from the registration requirements.
This news release shall not constitute an offer to sell, or a solicitation of an
offer to buy, any security, including the Notes. No offer, solicitation, or sale
will be made in any jurisdiction in which such an offer, solicitation, or sale
would be unlawful.
About Ashland
In more than 100 countries, the people of Ashland Inc. (NYSE: ASH) provide the
specialty chemicals, technologies and insights to help customers create new and
improved products for today and sustainable solutions for tomorrow. Our
chemistry is at work every day in a wide variety of markets and applications,
including architectural coatings, automotive, construction, energy, food and
beverage, personal care, pharmaceutical, tissue and towel, and water treatment.
Visit ashland.com to see the innovations we offer through our four commercial
units - Ashland Specialty Ingredients, Ashland Water Technologies, Ashland
Performance Materials and Ashland Consumer Markets.
C-ASH
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Ashland has identified some of
these forward-looking statements with words such as "anticipates," "believes,"
"expects," "estimates," "may," "will," "should" and "intends" and the negative
of these words or other comparable terminology. In addition, Ashland may from
time to time make forward-looking statements in its filings with the Securities
and Exchange Commission (SEC), news releases and other written and oral
communications. These forward-looking statements are based on Ashland's
expectations and assumptions, as of the date such statements are made, regarding
Ashland's future operating performance and financial condition, the economy and
other future events or circumstances. Ashland's expectations and assumptions
include, without limitation, internal forecasts and analyses of current and
future market conditions and trends, management plans and strategies, operating
efficiencies and economic conditions (such as prices, supply and demand, cost of
raw materials, and the ability to recover raw-material cost increases through
price increases), and risks and uncertainties associated with the following:
Ashland's substantial indebtedness (including the possibility that such
indebtedness and related restrictive covenants may adversely affect Ashland's
future cash flows, results of operations, financial condition and its ability to
repay debt), severe weather, natural disasters, and legal proceedings and claims
(including environmental and asbestos matters). Various risks and uncertainties
may cause actual results to differ materially from those stated, projected or
implied by any forward-looking statements, including, without limitation, risks
and uncertainties affecting Ashland that are described in its most recent Form
10-K (including Item 1A Risk Factors) filed with the SEC, which is available on
Ashland's website at http://investor.ashland.com or on the SEC's website at
http://www.sec.gov. Ashland believes its expectations and assumptions are
reasonable, but there can be no assurance that the expectations reflected herein
will be achieved. Ashland undertakes no obligation to subsequently update any
forward-looking statements made in this news release or otherwise except as
required by securities or other applicable law.
(TM)Trademark of Ashland or its subsidiaries, registered in various countries
FOR FURTHER INFORMATION:
Investor Relations
Jason Thompson
+1 (859) 815-4454
jlthompson(at)ashland.com
Media Relations
Gary Rhodes
+1 (859) 815-3047
glrhodes(at)ashland.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ashland Inc. via Thomson Reuters ONE
[HUG#1679672]
Unternehmensinformation / Kurzprofil:
Datum: 20.02.2013 - 14:42 Uhr
Sprache: Deutsch
News-ID 231411
Anzahl Zeichen: 6811
contact information:
Town:
Covington
Kategorie:
Business News
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