Ashland Inc. has announced its intention to offer $500 million aggregate principal amount of senior notes due 2022 (the Notes). The Notes will be unsecured, unsubordinated obligations of Ashland.
Ashland intends to use the net proceeds of the offering, together with available cash, to pay the consideration, accrued and unpaid interest and related fees and expenses in connection with its previously announced tender offer for any and all of its outstanding 9.125% senior notes due 2017.
The Notes will be offered in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and outside the United States pursuant to Regulation S under the Securities Act. The Notes have not been registered under the Securities Act and may not be offered or sold in the United States without registration or an applicable exemption from the registration requirements.
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, any security, including the Notes. No offer, solicitation, or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.
Source: Ashland Inc