IHS Chemical Week

People & Business :: Companies

Arch Issues $75 Million in Debt to Prudential

2:26 PM MDT | September 3, 2009 | Vincent Valk

Arch Chemicals has issued $75 million in debt to Prudential Investment Management (Newark, NJ) under an agreement whereby the former can issue up to $150 million in debt to be purchased by the latter. The debt carries an interest rate of 6.7% and will mature in August 2016. The proceeds from the debt issue will help pay down part of Arch's credit facility. "The Notes balance our capital structure with longer term financing and provide additional liquidity well in advance of the maturity of our primary bank credit facilities in 2011. This private placement of...

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