Ineos Finance to redeem $700 million of 8 3/8% senior secured notes

By Tali Rackner

Norfolk, Va., March 6 – Ineos Finance plc issued a call to redeem $700 million of its 8 3/8% senior secured notes due 2019, according to a notice.

The bonds will be redeemed at 106.281 plus accrued interest on April 7. The issuer will also pay any additional amounts and accrued interest of $12.10 per $1,000 principal amount of notes from Feb. 15 to the redemption date.

The record date is April 6.

The redemption will be in addition to and contingent on the previously announced redemption of $300 million of the notes, which is scheduled for April 1.

Following the two redemptions, the notes will have been redeemed in full.

The Bank of New York Mellon is the paying agent.

Ineos is a London-based manufacturer of petrochemicals, specialty chemicals and oil products.

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