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Rockwood Issuing $750 Million in Senior Debt
3:43 PM MDT | September 19, 2012 | Vincent Valk
Rockwood is issuing $750 million in new senior unsecured debt due 2020, the company says. Moody’s has rated the debt ‘Ba2,’ a notch below Rockwood’s corporate credit rating. The $740 million in expected proceeds will be used for general corporate purposes, including acquisitions, capital expenditures, and debt repayment. A source close to the situation says the debt will fetch an interest rate of 4.75%, and that it has attracted strong interest from investors. U.S. seven-year treasuries are currently yielding 1.03%. Deutsche Bank, Morgan...
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