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ACC's economic outlook for the week ended 11 July 2014

10:40 AM MDT | July 14, 2014 | American Chemistry Council

MACROECONOMIC STATUS Our running tab of positive indicators remained steady at 16 out of 20 this week. Thus, we continue to post a green banner. Consumer Debt up 7.4% annual rate; up 6.5% Y/Y Wholesale Trade up 0.7%; up 6.6% Y/Y Semiconductor Sales up 2.0%...


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IMCD's over-allotment option exercised in full; IPO valued at more than €530 million

Specialty chemicals distributor IMCD Group (Rotterdam) says that, following its recent initial public offering, the option to sell an additional 15% of the total number of shares offered in the IPO has been exercised in full. The London branch of Deutsche...

Monsanto issues debt to fund accelerated share buyback

Monsanto today announced it issuing $4.5 billion in senior bonds in several tranches, with a variety of maturity dates and interest rates. The largest tranche is worth $1 billion, will mature in 2044, and carry an interest rate of 4.4%. The remaining tranches...

Report: Univar to select banks for IPO

Univar will soon select Deutsche Bank, Goldman Sachs, and Bank of America to underwrite Univar's anticipated initial public offering (IPO), according to a Reuters report. Univar confirmed to CW last month that the company's private equity owners are...

FMC cuts earnings guidance as ag weakness continues

FMC announced today it is cutting its second-quarter and full-year earnings guidances, to 95 cts–$1.05/share and $4.10–4.30/share, respectively. The decreases are about 9.1% for the second-quarter guidance and about 5.6% for the full-year...

IMCD's IPO priced in middle of announced range

Specialty chemicals distributor IMCD Group (Rotterdam) priced its initial public offering at €21/ordinary share ($28.65)—the middle of the previously announced price range. The company says there was strong investor demand and that the IPO was...

IMCD increases number of shares offered in IPO by 10%

Specialty chemicals distributor IMCD Group (Rotterdam) and its main shareholder, private equity firm Bain Capital, say they have decided, due to "significant demand," to increase the number of ordinary shares offered in IMCD's initial public...

Omnova net income rises but misses estimates

Omnova today reported fiscal second-quarter earnings up 17.2% year-on-year (YOY), to $3.4 million, or 7 cts/share, on sales down 1.6%, to $266.4 million. Adjusted earnings from continuing operations totaled $4 million, or 9 cts/share, down 44.4% YOY and well...

Olin refinances debt, rearranges credit facilities

Olin says it is refinancing its 8.875% senior bonds due in 2019, using an existing $265-million senior revolving credit facility and a delayed draw-down term loan to pay down the debt. The credit facilities will be replaced by new facilities totaling $415...

BioAmber secures C$20-million loan for Sarnia biobased succinic acid project

BioAmber's (Minneapolis) Canadian subsidiary, a joint venture with Mitsui & Co., has secured a C$20-million ($18.6 million) commercial loan from a financial consortium led by Export Development Canada and including Farm Credit Canada and Comerica Bank...

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