Ashland brings €500 million eight-year bullet amid debt refinancing

By Paul A. Harris

Portland, Ore., Jan. 7 – Ashland Global Holdings Inc. announced in a Tuesday press release that its indirect, wholly owned subsidiary Ashland Services BV intends to offer €500 million of senior notes via Rule 144A and Regulation S.

The deal will feature an eight-year bullet structure, according to a market source.

The Covington, Ky.-based chemical company plans to use the proceeds, together with its delayed-draw term loan A and other funds, to fund tender offers for a portion of Ashland LLC’s 4¾% senior notes due 2022, Hercules LLC’s 6.6% debentures due 2027, Ashland LLC’s 6 7/8% senior notes due 2043 and Hercules’ 6½% junior subordinated debentures due 2029.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.