Solutia Inc. Successfully Completes Exchange Offer For Its Outstanding 11.25% Senior Secured Notes Due 2009

Date: 27 November 2002
Source: Solutia

Date: 27 November 2002

Solutia Inc. announced today that its registered exchange offer (the "Exchange Offer") for all of its outstanding 11.25% Senior Secured Notes due 2009 (the "Old Notes") expired by its terms at 5 p.m. eastern time, Nov. 18, 2002.

In its Exchange Offer, Solutia offered to exchange $1,000 in principal amount of its 11.25% Senior Secured Notes due 2009, which have been registered under the Securities Act of 1933 (the "New Notes"), for each $1,000 in principal amount of the Old Notes. Solutia has accepted for exchange all Old Notes validly tendered in the Exchange Offer. Solutia said that delivery of the New Notes to be issued in exchange for accepted Old Notes will be promptly made to the tendering note holders.

According to HSBC Bank USA, the exchange agent, note holders had tendered or guaranteed the delivery of $223,000,000 principal amount of Old Notes, representing 100% of the outstanding Old Notes, prior to the expiration of the Exchange Offer.

Solutia ( http://www.Solutia.com ) uses world-class skills in applied chemistry to create value-added solutions for customers, whose products improve the lives of consumers every day. Solutia is a world leader in performance films for laminated safety glass and after-market applications; resins and additives for high-value coatings; pharmaceutical services such as chemical development and manufacture, clinical trial services and expert advisory services for pharmaceutical and biopharmaceutical companies; specialties such as water treatment chemicals, heat transfer fluids and aviation hydraulic fluid and an integrated family of nylon products including high-performance polymers and fibers.

600450 Solutia Inc. Successfully Completes Exchange Offer For Its Outstanding 11.25% Senior Secured Notes Due 2009 glassonweb.com

See more news about:

Others also read

Apogee Enterprises Inc. reported level sales but an increase in earnings for the third quarter of its fiscal 2003. Bloomington-based Apogee, which makes glass products and services, said the earnings increase was mainly the result of improvements in its architectural glass business.
William A. Wulfsohn, vice president and general manager of Nylon System for Honeywell International, has been named vice president of European coatings for PPG Industries (NYSE:PPG) and managing director of PPG Europe. "Bill will play a vital role in helping our European coatings businesses achieve their full potential," said Michael A.
Bystronic is to take over Armatec Vierhaus GmbH with effect from 1 January 2003. For Bystronic, a global supplier of system solutions for the manufacture of architectural and automotive glass, the takeover of Armatec, which specialises in laminated safety glass and handling systems, ideally complements the Bystronic portfolio.
Owens-Brockway Glass Container Inc., an indirect wholly-owned subsidiary of Owens-Illinois, Inc., (NYSE: OI) announced today that is has closed on the sale of $175 million principal amount of its 8-3/4% Senior Secured Notes due November 15, 2012.
The butterflies at Melbourne Zoo have gone upmarket with a new accommodation wing featuring Pilkington glass.
UCB reached an agreement with Solutia to acquire Solutia's Resins, Additives & Adhesives activity for $500 million, plus a $10 million exclusivity fee.

Add new comment