Eastman Chemical to price new notes to fund $400 million tender offer

By Angela McDaniels

Tacoma, Wash., Oct. 31 – Eastman Chemical Co. plans to price an offering of new debt securities, according to a company news release.

Proceeds will be used to fund a tender offer for up to $400 million of the company’s 7.625% debentures due 2024, 7.6% debentures due 2027, 7.25% debentures due 2024, 4.5% notes due 2021, 3.6% notes due 2022 and 3.8% notes due 2025.

The tender offer will expire at midnight ET on Nov. 29.

The dealer manager for the tender offer is Citigroup Global Markets Inc.

Eastman Chemical is a specialty chemical company based in Kingsport, Tenn.

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