PolyOne Announces Commencement of $650 Million Senior Notes Offering
Polished Inc. (POL)
Last polished inc. earnings: 4/21 06:37 am
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US:NYSE Investor Relations:
polyone.com/investor-center/investor-center
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Source: PR Newswire
CLEVELAND, April 29, 2020 /PRNewswire/ -- PolyOne Corporation (NYSE: POL) today announced the commencement of an offering of $650 million in aggregate principal amount of senior notes due 2025 (the "notes") in an offering exempt from the registration requirements of the Securities Act of 1933 (the "Securities Act"). PolyOne intends to use the net proceeds from the offering to finance, in part, its pending acquisitions of Clariant AG's global masterbatch business (the "Clariant masterbatch acquisition") and Clariant Chemicals (India) Limited's masterbatch business (collectively, the "acquisitions"). The net proceeds will also fund, in part, the payment of expenses related to the acquisitions. The closing of the offering is expected to occur prior to, and is not conditioned upon, the consummation of either of the acquisitions. The notes will be subject to a "special mandatory redemption" in the event that (i) the Clariant masterbatch acquisition is not consummated on or prior to Decembe
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