OCI plans partial redemption of 3 1/8% secured notes due 2024

By Rebecca Melvin

Concord, N.H., Nov. 2 – OCI NV announced it has given a notice of conditional partial redemption to holders of its €700 million 3 1/8% senior secured notes due 2024, according to a press release.

The company plans to redeem €400 million of the notes at a redemption price of 101.5625 per note plus accrued interest on Nov. 8.

The redemption is conditional upon OCI having financing in place in an amount sufficient to fund the redemption amount.

The transaction is expected to result in a reduction in OCI’s finance costs of approximately $14.5 million per year from 2022 onwards.

OCI is a Netherlands-based producer of fertilizers and chemicals.

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