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Rockwood Increases Size of Debt Issue

2:48 PM MDT | September 20, 2012 | Vincent Valk

Rockwood’s new debt issue, first announced earlier this week, has increased in size to $1.25 billion, from $750 million, according to Standard & Poor’s (S&P; New York). S&P expects the proceeds to be used to fund the acquisition of Talison Lithium, pay down about $250 million in senior secured debt, and for other corporate purposes.   The debt will carry an interest rate of 4.625%, about 100 basis points lower than originally expected, a source close to the situation tells CW. The size of the deal was expanded due to strong demand...

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