PolyOne: $256 million in 8 7/8% notes tendered by early tender date

By Devika Patel

Knoxville, Tenn., Sept. 24 - PolyOne Corp. said $256 million of its $280 million in 8 7/8% senior notes due 2012 were tendered by the early tender deadline of 5 p.m. ET on Sept. 23 as part of the company's cash tender offer for any and all of the notes.

The offer launched Sept. 10 and will expire at 8 a.m. ET on Oct. 8.

Holders will receive a total consideration of $1,100 per $1,000 principal amount of notes tendered by the early deadline. The total consideration consists of the tender offer consideration of $1,070 plus an early tender payment of $30 per $1,000 in notes.

Holders who tender their notes after the early tender date but on or prior to the expiration deadline will receive $1,070 per $1,000 in notes.

PolyOne will also pay accrued interest up to but excluding the payment date.

Banc of America Securities LLC (980 388-9217 or 888 292-0070) and Morgan Stanley & Co. Inc. (212 761-5384 or 866 624-1808) are the dealer managers for the tender offer, and Global Bondholder Services Corp. (866 470-4300) is the information agent and depositary.

PolyOne is a Cleveland-based polymer services company.

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