Element Solutions redeems, cancels $800 million 5 7/8% senior notes due 2025

By Rebecca Melvin

New York, Sept. 9 – Element Solutions Inc. redeemed its outstanding $800 million principal amount of 5 7/8% senior notes due 2025 at par plus a 4.197% premium and accrued and unpaid interest, and canceled the notes on Sept. 4, according to an 8-K filing with the Securities and Exchange Commission.

The company paid an aggregate applicable premium of $33,576,000, or $41.97 per bond plus accrued and unpaid interest of $12,141,667, for a total redemption price of $845,717,667, or $1,057.15 per $1,000 principal amount of notes.

The redemption was conditioned on completion of an $800 million issue of new 3 7/8% senior notes due 2028. The old notes were redeemed on Aug. 18 in tandem with the closing of the new notes.

Element Solutions is a Fort Lauderdale, Fla.-based provider of specialty chemicals.

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