LSB Industries collects tenders for 89.97% of 8½% notes due 2019

By Susanna Moon

Chicago, April 23 – LSB Industries, Inc. said holders had tendered $337,386,000, or 89.97%, of its $375 million principal amount of outstanding 8½% senior secured notes due 2019 in the offer that ended at 5 p.m. ET on April 20.

The results exclude $20,397,000 principal amount of notes tendered under guaranteed delivery procedures, according to a company announcement.

LSB said it expects to accept for payment all of the tendered notes on April 25, subject to the closing of its $400 million principal amount of 9 5/8% notes due 2023.

As announced April 16, the purchase price will be $1,023.88 per $1,000 principal amount plus accrued interest to but excluding the settlement date of April 25.

Goldman Sachs & Co. LLC (800 828-3182) is the dealer manager. The information and tender agent is D.F. King & Co., Inc. (800 967-5079, lsb@dfking.com or dfking.com/lsb).

LSB is a manufacturing, marketing and engineering company based in Oklahoma City.

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