Three Companies Refinance, Issue Debt

PolyOne, Huntsman and Arch Chemicals have all refinanced or issued new debt in the past several days. PolyOne and Huntsman are refinancing, while Arch has completed a private placement, part of which will go towards paying down outstanding borrowing on a term loan. PolyOne is issuing $360 million in senior-level bonds at a 7.375% interest rate. The bonds mature in September 2020. Most of the $353 million in proceeds will go towards an offer to buy back $280 million in higher-interest debt due 2012. The size of the new issue was originally announced at $320...

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