People & Business :: Companies
PPG Issues $1 Billion in Debt in Three Parts
9:21 AM MST | November 9, 2010 | Vincent Valk
PPG is issuing a total of $1 billion in new debt in three different parts, one $500 million and two $250 million each. The $500 million portion carries an interest rate of 3.6% and will mature in 2020. The two $250 million parts have interest rates and maturation dates of 1.9% and 2016, and 5.5% and 2040, respectively. The proceeds from the debt sale will go towards repaying a $400 million term loan, and to fund asbestos claims and employee pension obligations, the company says. Moody's Investors Service (New York) rated the debt 'Baa1,' while Standard and Poor'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