Avient announces $650 million senior notes offering

By Bobby Samwell • Thursday, September 05 15:10 • Permanent Link

Avient Corporation (NYSE: AVNT) has announced the commencement of a $650 million senior notes offering. The offering is intended to redeem all of Avient's outstanding 5.75% senior notes due 2025 and pay related fees and expenses.

In terms of financial metrics, here's how the offering compares to the previous period:

Offering Amount: $650 million
This represents a significant increase from the previous period's outstanding senior notes, which were due in 2025.
Purpose of the Offering: Redemption of 5.75% Senior Notes Due 2025
The net proceeds from the offering, along with cash on hand, will be used to redeem all of Avient's outstanding 5.75% senior notes due 2025 and pay related fees and expenses.
Offering Exemptions: Rule 144A and Regulation S
The notes will be offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons in reliance on Regulation S.
Registration Status: Unregistered
The notes will not be and have not been registered under the securities act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This press release provides insight into Avient's strategic financial moves, particularly in terms of refinancing existing debt through the issuance of new senior notes. The company's decision to redeem the outstanding 5.75% senior notes due 2025 and pay related fees and expenses indicates a proactive approach to managing its debt obligations and optimizing its capital structure. As a result of these announcements, the company's shares have moved -1.6% on the market, and are now trading at a price of $46.11. For more information, read the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.