Arch Chemicals Closes on $250 Million Private Placement of 4% Senior Notes Due 12/31/2017
09 Settembre 2010 - 10:38PM
Arch Chemicals, Inc. (NYSE:ARJ) announced that it entered into an
agreement with certain institutional investors providing for a
private placement of $250 million aggregate principal amount of
4.0% unsecured senior notes due December 31, 2017. The Company
issued $125 million principal amount of the notes at closing and
the remaining $125 million of notes will be issued on or before
December 31, 2010 subject to customary closing
conditions. Proceeds from the issuance of the notes will be
used for general corporate purposes, including the repayment of the
$80 million outstanding on its term loan facility.
Arch Chemicals' Senior Vice President and CFO Steven C. Giuliano
said: "We're extremely pleased to have completed this new financing
agreement. It provides us with a long-term source of funding
at a historically-attractive interest rate and provides additional
liquidity well in advance of the maturity of our primary bank
credit facilities in June 2011. This private placement of
seven-year 4.0% notes further strengthens our balance sheet,
provides us with additional financial flexibility and enhances our
capability to support the long-term, profitable growth prospects in
our core Biocides businesses."
The notes have not been and will not be registered for sale or
resale under the Securities Act of 1933, as amended, and may not be
offered or sold absent such registration or an applicable exemption
from the registration requirements of the Securities Act. This news
release shall not constitute an offer to sell or the solicitation
of an offer to buy the notes.
About Arch
Headquartered in Norwalk, Connecticut (USA), Arch Chemicals,
Inc. ("Arch Chemicals" or the "Company") is a global Biocides
company with annual sales of over $1 billion. Arch and its
subsidiaries provide innovative, chemistry-based and related
solutions to selectively destroy and control the growth of harmful
microbes. The Company's concentration is in water treatment,
hair and skin care products, wood treatment, preservation and
protection applications such as for paints and building products,
and health and hygiene applications. Arch Chemicals operates
in two segments: Biocides Products and Performance
Products. Together with its subsidiaries, Arch has
approximately 3,000 employees and manufacturing and
customer-support facilities in North and South America, Europe,
Asia, Australia and Africa. For more information, visit the
Company's Web site at http://www.archchemicals.com.
Except for historical information contained herein, the
information set forth in this communication contains
forward-looking statements that are based on management's beliefs,
certain assumptions made by management and management's current
expectations, outlook, estimates and projections about the markets
and economy in which the Company and its various businesses
operate. Words such as "anticipates," "believes," "estimates,"
"expects," "forecasts," "intends," "opines," "plans," "predicts,"
"projects," "should," "targets" and variations of such words and
similar expressions are intended to identify such forward-looking
statements. These statements are not guarantees of future
performance and involve certain risks, uncertainties and
assumptions ("Future Factors"), which are difficult to predict.
Therefore, actual outcomes may differ materially from what is
expected or forecasted in such forward-looking statements. The
Company undertakes no obligation to update publicly any
forward-looking statements, whether as a result of future events,
new information or otherwise. Future Factors which could cause
actual outcomes to differ materially from those discussed include
but are not limited to: general economic and business and market
conditions; no improvement or weakening in U.S., European and Asian
economies; increases in interest rates; changes in foreign
currencies against the U.S. dollar; customer acceptance of new
products; efficacy of new technology; changes in U.S. or foreign
laws and regulations; increased competitive and/or customer
pressure; loss of key customers; the Company's ability to maintain
chemical price increases or achieve targeted price increases;
higher-than-expected raw material and energy costs and availability
for certain chemical product lines; unexpected changes in the
antidumping duties on certain products; increased foreign
competition in the calcium hypochlorite markets; inability to
obtain transportation for our chemicals; unfavorable court
decisions, including unfavorable decisions in appeals of
antidumping rulings, arbitration or jury decisions or tax matters;
the supply/demand balance for the Company's products, including the
impact of excess industry capacity; failure to achieve targeted
cost-reduction programs; capital expenditures in excess of those
scheduled; environmental costs in excess of those projected; the
occurrence of unexpected manufacturing interruptions/outages at
customer, supplier or Company plants; a decision by the Company not
to start up the hydrates manufacturing facility; unfavorable
weather conditions for swimming pool use; inability to expand sales
in the professional pool dealer market; the impact of global
weather changes; changes in the Company's stock price; ability to
obtain financing at attractive rates; financial market disruptions
that impact our customers or suppliers; gains or losses on
derivative instruments; and implementation of the Company's R&D
reorganization consistent with the Company's expectations.
CONTACT: Arch Chemicals, Inc.
Investor Contact:
Mark E. Faford
(203) 229-3820
Press Contact:
Dale N. Walter
(203) 229-3033
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