CHARLOTTE, N.C., Jan. 11, 2017 /PRNewswire/ -- Albemarle
Corporation (NYSE: ALB) (the "Company"), a leader in the global
specialty chemicals industry, announced today that it intends to
redeem all of its outstanding 3.000% Senior Notes due 2019 (CUSIP
No. 012725AB3, ISIN No. US012725AB30) issued by it (the "Notes") on
February 10, 2017 (the "Redemption
Date").
The Notes will be redeemed at a redemption price equal to the
greater of (1) 100% of the principal amount of the Notes and (2)
the sum of the present values of the remaining scheduled payments
of principal and interest on the Notes (exclusive of interest
accrued to the Redemption Date) from the Redemption Date through
the Par Call Date, as defined in the Notes (assuming the Notes
matured on the Par Call Date), in each case discounted to the date
of redemption on a semi-annual basis (assuming a 360-day year
consisting of twelve 30-day months) at the Treasury Rate (as
defined in the Notes) plus 25 basis points, plus in each case,
accrued and unpaid interest on the Notes redeemed to, but not
including, the Redemption Date.
The Notes will be repaid with the net proceeds from the
Company's previously completed sale of its Chemetall Surface
Treatment segment.
Holders of any Notes in certificated form will be paid the
Redemption Price upon presentation and surrender of their Notes for
redemption at the address of the Trustee and Paying Agent indicated
below. Notes in book-entry form must be surrendered
through the facilities of The Depository Trust Company in the usual
manner, and payment of the Redemption Price will be made through
the facilities of The Depository Trust Company in the usual
manner. Notes called for redemption must be so surrendered in
order to collect the Redemption Price.
The Company has instructed U.S. Bank National Association, as
the Trustee and Paying Agent for the Notes, to distribute a Notice
of Redemption to all registered holders of the Notes on or about
January 11, 2017. Copies of
such Notice of Redemption and additional information relating to
the procedure for redemption of the Notes may be obtained from U.S.
Bank National Association by calling its Bondholder Communications
team at 1-800-934-6802 Monday through Friday from 8 a.m. Central Time to 6 p.m. Central Time or by
visiting the Trustee and Paying Agent's website at
www.usbank.com/corporatetrust and clicking on the "Bondholder
Information" link for Redemption instructions.
This announcement is for informational purposes only and does
not constitute an offer to buy or a solicitation of an offer to
sell, nor shall there be any sale of any of the Notes in any
jurisdiction in which the circumstances of such offer, solicitation
or sale would be unlawful under the securities laws of any such
jurisdiction.
About Albemarle
Albemarle Corporation (NYSE:
ALB), headquartered in Charlotte,
NC, is a global specialty chemicals company with leading
positions in lithium, bromine and refining catalysts. We power the
potential of companies in many of the world's largest and most
critical industries, from energy and communications to
transportation and electronics. Working side-by-side with our
customers, we develop value-added, customized solutions that make
them more competitive. Our solutions combine the finest technology
and ingredients with the knowledge and know-how of our highly
experienced and talented team of operators, scientists and
engineers.
Discovering and implementing new and better performance-based
sustainable solutions is what motivates all of us. We think beyond
business-as-usual to drive innovations that create lasting value.
Albemarle employs approximately
4,100 people and serves customers in approximately 100 countries.
We regularly post information to www.albemarle.com, including
notification of events, news, financial performance, investor
presentations and webcasts, non-GAAP reconciliations, SEC filings
and other information regarding our company, its businesses and the
markets it serves.
Forward-Looking Statements
This press release contains
forward-looking statements within the meaning of the federal
securities laws. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of the Company. These risks include, but are not limited
to, the Company's ability to complete the redemption or its pending
tender offers and reduce its outstanding indebtedness, and the
other risks identified in the Company's offer to purchase relating
to its tender offers and the Company's Annual Report on Form 10-K
and other filings with the Securities and Exchange
Commission. Investors are cautioned that any such statements
are not guarantees of future performance and that actual results or
developments may differ materially from those projected in the
forward-looking statements. The forward-looking statements in this
press release are made as of the date hereof, and the Company does
not undertake any obligation to update the forward-looking
statements as a result of new information, future events or
otherwise.
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SOURCE Albemarle Corporation