OCI NV

09/14/2021 | Press release | Distributed by Public on 09/14/2021 10:00

OCI N.V. Announces a Conditional Notice of Redemption of all of its Outstanding $540,000,000 5.25% Senior Secured Notes Due 2024

OCI N.V. Announces a Conditional Notice of Redemption of all of its Outstanding $540,000,000 5.25% Senior Secured Notes Due 2024

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14 Sep 2021 17:51 CEST

Company Name

OCI N.V.

ISN

NL0010558797

Market

Euronext

Symbol

OCI

OCI N.V. (Euronext: OCI) today announced that it has given notice (the 'Notice') to the holders of its $540,000,000 5.25% Senior Secured Notes due 2024 (the 'Notes') of the conditional redemption of all of the aggregate principal amount of the outstanding Notes.

The redemption date is expected to be November 1, 2021 (the 'Redemption Date'). The redemption of the Notes is conditional upon satisfaction of the Condition Precedent (as discussed below).

The redemption price will be 102.625% of the aggregate principal amount of the Notes outstanding, plus accrued and unpaid interest and Additional Amounts, if any, to, but not including, the Redemption Date.

The redemption of the Notes is conditional upon OCI having financing in place in an amount sufficient (as determined by the Issuer in its sole and absolute discretion) to fund the necessary redemption amount on the Redemption Date (the 'Condition Precedent').

This transaction is expected to result in a reduction in OCI N.V.'s finance costs of more than $25 million per annum from 2022 onwards and marks the continuation of the company's financial policy to optimize its capital structure. OCI will continue to evaluate opportunities to achieve similar objectives.

oci-announces-redemption-senior-secured-notesvf0.pdf

Source

OCI

Provider

Euronext