WILMINGTON, Del., Aug. 18, 2021 (GLOBE NEWSWIRE) — Ashland Global Holdings Inc. (NYSE: ASH) announced today that its indirect, wholly owned subsidiary, Ashland LLC, has closed its previously announced offering of $450 million aggregate principal amount of 3.375 percent senior notes due 2031 (the “Notes”).
The Notes are senior unsecured obligations of Ashland LLC. The Notes are initially guaranteed on an unsecured basis by Ashland Global Holdings Inc. (the “Guarantee”).
Ashland intends to use the net proceeds of the offering, after deducting initial purchasers’ discounts and other fees and expenses, to redeem its obligations under its outstanding 4.750 percent senior notes due 2022, and to pay any premiums, penalties, fees and expenses associated therewith (the “Refinancing”), with any remaining net proceeds to be held as cash on the balance sheet and used for general corporate purposes, which may include working capital, capital expenditures, and repayment of indebtedness.
The Notes were offered in the United States to (i) qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and (ii) to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The Notes and the Guarantee have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction, and may not be offered or sold in the United States or to U.S. persons without registration under the Securities Act, the securities laws of any other jurisdiction or an applicable exemption from the registration requirements.
This news release shall not constitute an offer to sell, or a solicitation of an offer to buy, any security, including the Notes, in any jurisdiction in which such offer, solicitation, or sale would be unlawful.
