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Arch Chemicals Issues Senior Notes and Enters Securitization Program
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Business New Haven
4/1/2002
By: BNH
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NORWALK, Conn. - Arch Chemicals, Inc. (NYSE: ARJ) announced that it has issued $211 million principal amount of unsecured senior notes in a private placement to certain institutional investors. Series A notes of $149 million are due in March 2007 and Series B notes of $62 million are due in March 2009 and bear fixed interest rates of 7.94% and 8.24%, respectively. Proceeds from the issuance of these notes will be used principally to pay off the acquisition facility that the Company used to acquire Hickson International PLC in 2000.
The Company also entered into a trade accounts receivable securitization program under which it can sell, on an ongoing basis, participation interests in accounts receivable of up to $80 million through its wholly owned subsidiary, Arch Chemicals Receivables Corp.
Arch Chemicals is a global specialty chemicals company with 3,000 employees worldwide, approximately $1 billion in annual revenue, and positions in segments including microelectronic materials, HTH water products, treatment products, and performance products
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