PolyOne Announces Pricing of $650 Million 5.75% Senior Notes due 2025
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 pricing of its previously announced 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"). The notes will bear interest at an annual rate of 5.75% and will be issued at a price of 100% of their principal amount. The closing of the notes offering is expected to occur on May 13, 2020, subject to customary closing conditions.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
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