Chemtura calls 9 7/8% notes due 2012

By Jennifer Chiou

New York, June 2 - Chemtura Corp. announced the redemption of its $158.938 million of 9 7/8% senior notes due 2012.

The company estimated the redemption price for the notes at 112.777% plus accrued interest up to but excluding July 3, the redemption date.

Chemtura said that the redemption price is based on a current reference Treasury yield of 5.05% plus 50 basis points, adding that the price will be calculated based on a different reference Treasury yield to be chosen on June 28.

"This action completes the retirement of expensive high-yield debt issued in 2004," said Karen R. Osar, chief financial officer, in a news release.

Wells Fargo Bank, NA is the trustee and Deutsche Bank Trust Co. Americas is the paying agent.

Based in Middlebury, Conn., Chemtura manufactures specialty chemicals, crop protection and pool, spa and home care products.

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