PPG commodity business issuing debt to fund spin-off, merger

PPG’s commodity chemicals business, which is being merged into Georgia Gulf, is issuing $688 million in bonds to compensate PPG for the spin-off of the business. The business will be merged with Georgia Gulf upon completion of the spin-off, which is expected later this month.   The bonds are being sold to investors in a private placement, and will be due in 2021 and carry an interest rate of 4.625%. The sale will close on 30 January.   Georgia Gulf said earlier this week that it will change its name to Axiall upon completion of the merger. The...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers