in this issue
Markets :: Specialty Chemicals :: Water treatment
Nalco Refinances $1 Billion in Debt; Moody's Raises Credit Rating
11:48 AM MST | December 8, 2010 | Vincent Valk
Nalco is issuing $1 billion in new debt to refinance three older classes of bonds, two of which m mature in 2013. The new debt, maturing in 2019, will be issued in a private placement, and the interest rate has not been determined. The proceeds from the issuance will fund an offer to buy back two classes of debt, totaling $465 million and $264 million each, both due in 2013. Both classes of debt carry interest rates around 9%. The third class of refinanced debt is composed of $261 million in 9% senior discount bonds. The new debt was rated 'Ba2' by Moody's...
This information is only available to Chemical Week subscribers.
Forgot your user ID or password?
Not an IHS Chemical Week member yet?
Here's why you should be:
100% Satisfaction Guarantee