Rockwood begins asset sale offer for up to $400 million 4 5/8% notes

By Susanna Moon

Chicago, April 17 - Rockwood Holdings, Inc. said its wholly owned subsidiary Rockwood Specialties Group, Inc. began a cash tender offer for up to $400 million principal amount of its 4 5/8% senior notes due 2020.

The purchase price will be par plus accrued interest to but excluding the payment date.

The asset sale offer is being made under the note terms as a result of the company's sale of its advanced ceramics segment and clay-based additives business with cash on hand, according to a company press release.

The tender offer will end at midnight ET on May 14.

Princeton, N.J.-based Rockwood is a specialty chemicals and advanced materials company.

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