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Kraton Polymers will delay Feb. 28 redemption of 5¼% notes
By Mary-Katherine Stinson
Lexington, Ky., Feb. 24 – Kraton Polymers LLC and Kraton Polymers Capital Corp. announced Thursday that the company’s merger plan will not be completed by Feb. 28 and, therefore, the planned redemption of its outstanding 5¼% senior notes due 2026 (ISINs: XS1713463476, XS1713463633) will be delayed, according to a notice.
As previously reported, the redemption was subject to the successful execution of the merger which was an agreement reached in September by and among DL Chemical Co., Ltd. as parent, DLC US Holdings, Inc. and DLC US, Inc. as merger subsidiaries and Kraton Corp., the parent company of the issuers, whereas the merger subsidiaries would be absorbed into the company with the company surviving the merger as an indirect wholly owned subsidiary of DL Chemical Co., Ltd.
The redemption will now be delayed to a date two business days following a notice of the satisfaction or waiver of this transaction condition.
The company is a Houston-based producer of styrenic block copolymers and specialty polymers.
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