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.