Kraton Polymers buys back $0.7 million notes, parent buys $6.3 million

New York, May 13 - Kraton Polymers LLC said it bought back $0.7 million face amount of its 8 1/8% notes due 2014 for $0.3 million in cash on April 9 while its holding company, TJ Chemical Holdings LLC, repurchased a further $6.3 million face value of the notes during April for $2.5 million in cash.

TJ Chemical immediately contributed the notes to Kraton.

The buybacks are in addition to $30 million of notes that the company retired during March.

Kraton describe the actions as part of a continuing effort to deleverage the company, in turn part of its steps to "endure the present down trend."

Kraton is a Houston-based producer of engineered polymers.

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