OM Group calls all $400 million of 9¼% notes due 2011

By Laura Lutz

Washington, Feb. 5 - OM Group, Inc. announced that it plans to redeem all of its outstanding $400 million principal amount of 9¼% senior subordinated notes issued in 2001 and due in 2011.

The notes will redeemed at 104.625% of the principal amount plus accrued interest on March 7.

The company said in a news release that the redemption will facilitate its plan to divest its nickel business and use the proceeds for acquisitions and product development.

OM Group is a Cleveland-based chemical producer.

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