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|Albemarle Corporation Announces Pricing and Expiration of Any and All Tender Offers|
The Any and All Tender Offers were made pursuant to the terms and conditions set forth in the offer to purchase, dated
The Any and All Tender Offers expired at
The "Total Consideration" listed in the table above for each
According to information provided by
Based on the results of the Any and All Tender Offers, the Aggregate Maximum Repurchase Amount (as defined in the offer to purchase relating to the tender offers) with respect to the Company's offer on its 1.875% senior notes due 2021 and its 4.150% senior notes due 2024 is approximately
Holders will also receive accrued and unpaid interest on Notes validly tendered and accepted for purchase from the applicable last interest payment date up to, but not including, the Settlement Date. The Company intends to make payment on Notes tendered by the guaranteed delivery procedures on the Guaranteed Delivery Settlement Date, but accrued interest will cease to accrue on the Settlement Date for all Notes accepted in the Any and All Tender Offers, including those tendered by the guaranteed delivery procedures.
Albemarle will fund the tender offers with the net proceeds from the previously completed sale of its Chemetall Surface Treatment segment. The tender offers are being made to reduce the Company's outstanding debt. The Company currently intends to deliver a notice of redemption to redeem all of the 2019 Notes that were not validly tendered and accepted in the Any and All Tender Offers in accordance with the terms of the make-whole redemption provisions under the indenture governing the 2019 Notes.
Information Relating to the Tender Offers
BofA Merrill Lynch is the Sole Dealer Manager for the tender offers. Investors with questions regarding the tender offers may contact the Sole Dealer Manager at (888) 292-0070 (U.S. toll-free), (980) 387-3907 (collect) or +44-20-7996-5420 (
This press release is for informational purposes only and is not an offer to buy, or the solicitation of an offer to sell, any of the above-referenced securities, and the tender offers do not constitute offers to buy or the solicitation of offers to sell securities in any jurisdiction or in any circumstances in which such offers or solicitations are unlawful. The full details of the tender offers, including complete instructions on how to tender securities, are included in the Tender Offer Documents. Holders are strongly encouraged to read carefully the Tender Offer Documents, including materials incorporated by reference therein, because they contain important information.
Discovering and implementing new and better performance-based sustainable solutions is what motivates all of us. We think beyond business-as-usual to drive innovations that create lasting value. Albemarle employs approximately 4,100 people and serves customers in approximately 100 countries. We regularly post information to www.albemarle.com, including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations,
This press release contains forward-looking statements within the meaning of the federal securities laws. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks include, but are not limited to, the Company's ability to complete any of the tender offers and reduce its outstanding indebtedness and the other risks identified in the offer to purchase relating to the tender offers, the Company's Annual Report on Form 10-K and its other filings with the
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/albemarle-corporation-announces-pricing-and-expiration-of-any-and-all-tender-offers-300389100.html
Media Contact: Susan Richardson, (980) 299-5672, Susan.Richardson@albemarle.com or Investor Relations Contact: Matt Juneau, (225) 388-7940, Matt.Juneau@albemarle.com
Albemarle is a leading specialty chemical company providing innovative chemistry solutions to customers in over 100 countries around the world. We are committed to creating value for our shareholders, customers and employees, while continually striving for excellence by doing the right things the right way.
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