Olin Corporation to Offer $600 Million in Senior Notes

By Bobby Samwell • Friday, February 28 10:08 • Permanent Link

Olin Corporation (NYSE: OLN) has announced its intention to offer $600 million aggregate principal amount of senior notes due 2033, in a private offering exempt from the registration requirements of the Securities Act of 1933.

The company plans to use the net proceeds from the offering, along with borrowings under new replacement credit facilities, to carry out several strategic initiatives. These include redeeming all of its $500.0 million of 5.125% senior notes due 2027, refinancing its existing revolving credit facility and repaying all borrowings thereunder, as well as refinancing its existing term loan facility. Additionally, the funds will be utilized to pay related fees and expenses.

It's important to note that the senior notes will not be guaranteed by any subsidiaries of Olin on the issue date and have not been registered under the Securities Act. As a result, they may only be offered to qualified institutional buyers and non-U.S. persons outside the United States, in compliance with relevant regulations.

Olin Corporation is a leading vertically integrated global manufacturer and distributor of chemical products and a leading U.S. manufacturer of ammunition. The chemical products it produces include chlorine and caustic soda, vinyls, epoxies, chlorinated organics, bleach, hydrogen, and hydrochloric acid. In addition to its chemical products, Olin's Winchester division is involved in the production and distribution of a wide range of ammunition products, including sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, industrial cartridges, and clay targets.

While the press release provides valuable insights into Olin Corporation's strategic financial moves, it's important to recognize that the offering is subject to market and other conditions, and there is no assurance that it will be consummated on its proposed terms or at all. Today the company's shares have moved 1.7% to a price of $25.49. For the full picture, make sure to review Olin's 8-K report.

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