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Ineos to Issue Bonds to Raise Cash

3:26 AM MDT | May 6, 2010 | Kerri Walsh

Ineos will raise funds through a bond issue, despite disturbance in the global money markets. The issue is intended to raise cash to refinance existing debt, Ineos says. The company announced plans to issue bonds in March to pay down debt. Ineos will offer a two-part bond issue, due in 2015. The aggregate principal amount is €740 million ($945 million): $570 is priced at 9%, and €300 million is priced at 9.25%  "The market is clearly encouraged by the recent performance reported by the company and its delivery ahead of its business plan,"...

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