Eastman Announces Offering of ?550 Million 1.50% Notes due 2023
(Thomson Reuters ONE) -
KINGSPORT, Tenn., May 19, 2016 - Eastman Chemical Company (NYSE:EMN) today
announced the public offering of ?550 million (or $621 million based on the
euro/U.S. dollar exchange rate as of May 13, 2016 as published by the U.S.
Federal Reserve Board) principal amount of 1.50% notes due 2023 (the "Notes").
The offering of Notes is expected to close on May 26, 2016, subject to customary
closing conditions.
Barclays Bank PLC, J.P. Morgan Securities plc and Merrill Lynch International
are serving as joint book-running managers for the offering.
Eastman intends to use the net proceeds from the offering to repay or redeem a
portion of the $1.0 billion outstanding aggregate principal amount of its 2.4%
notes due June 2017, either at or prior to maturity. Any proceeds not used to
repay or redeem the notes due June 2017 will be used for general corporate
purposes, which may include working capital, capital expenditures, the repayment
of other indebtedness outstanding from time to time, and other matters in
connection with the implementation of its strategic initiatives. Pending the
application of the net proceeds, Eastman will invest such net proceeds in short-
term investments.
The offering is being made under an automatic shelf registration statement on
Form S-3 (Registration No. 333-204119) filed by Eastman with the Securities and
Exchange Commission ("SEC") on May 13, 2015 and only by means of a prospectus
supplement and accompanying prospectus. A preliminary prospectus supplement has
been filed, and an issuer free writing prospectus and a prospectus supplement
relating to the offering of the Notes will be filed, with the SEC, to which this
communication relates. Prospective investors should read the issuer free
writing prospectus, preliminary prospectus supplement and the accompanying
prospectus included in the registration statement and other documents Eastman
has filed with the SEC for more complete information about Eastman and this
offering. These documents are available at no charge by visiting EDGAR on the
SEC website at http://www.sec.gov. Alternatively, the prospectus and the
prospectus supplement may be obtained by contacting Barclays Bank PLC, 5 The
North Colonnade, Canary Wharf, London E14 4BB, United Kingdom, Attention: Debt
Syndicate, (tel): +44 (0) 20 7773 9098, J.P. Morgan Securities plc, 25 Bank
Street, Canary Wharf, London E14 5JP, United Kingdom, Attention: Head of Debt
Syndicate and Head of EMEA Debt Capital Markets Group, (tel): +44 (0)
20 7134 2468, and/or Merrill Lynch International, London EC1A 1HQ, United
Kingdom, Attention: Prospectus Department, or email:
dg.prospectus_requests(at)baml.com, (tel): 1-800-294-1322.
This communication is neither an offer to sell nor a solicitation of an offer to
buy the securities described herein, nor shall there be any offer, solicitation
or sale of these securities in any jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction. The offering
of these securities will be made only by means of the applicable prospectus
supplement and the related prospectus. The securities being offered have not
been approved or disapproved by any regulatory authority, nor has any such
authority passed upon the accuracy or adequacy of the registration statement,
the prospectus contained therein or the applicable prospectus supplement.
Forward-Looking Statements: This communication includes forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995 and the federal securities laws. Actual results could differ materially
from expectations expressed in the forward-looking statements if one or more of
the underlying assumptions or expectations prove to be inaccurate or are
unrealized. Important factors that could cause actual results to differ
materially from such expectations are and will be detailed in the company's
filings with the Securities and Exchange Commission, including the Form 10-Q
filed for first quarter 2016 and available on the Eastman website at
www.eastman.com in the Investors, SEC filings section.
Eastman is a global specialty chemical company that produces a broad range of
products found in items people use every day. With a portfolio of specialty
businesses, Eastman works with customers to deliver innovative products and
solutions while maintaining a commitment to safety and sustainability. Its
market-driven approaches take advantage of world-class technology platforms and
leading positions in attractive end-markets such as transportation, building and
construction and consumables. Eastman focuses on creating consistent, superior
value for all stakeholders. As a globally diverse company, Eastman serves
customers in approximately 100 countries and had 2015 revenues of approximately
$9.6 billion. The company is headquartered in Kingsport, Tennessee, USA and
employs approximately 15,000 people around the world.
# # #
Contacts:
Media: Tracy Kilgore
423-224-0498 / tjkilgore(at)eastman.com
Investors: Greg Riddle
212-835-1620 / griddle(at)eastman.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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: Eastman Chemical Company via GlobeNewswire
[HUG#2014056]
Unternehmensinformation / Kurzprofil:
Datum: 19.05.2016 - 19:41 Uhr
Sprache: Deutsch
News-ID 472451
Anzahl Zeichen: 6272
contact information:
Town:
Kingsport
Kategorie:
Business News
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