FAIRLAWN, Ohio, Oct. 12 /PRNewswire-FirstCall/ -- OMNOVA
Solutions Inc. (NYSE: OMN) today announced that it intends to offer
to sell, subject to market and other conditions, $250 million aggregate principal amount of senior
notes in an offering exempt from the registration requirements of
the Securities Act of 1933. The Company intends to use the
net proceeds from the offering, together with a new term loan of
approximately $200 million, to fund
the purchase price for the Company's proposed acquisition of
Eliokem International SAS, repay or replace all amounts outstanding
under the Company's existing term loan, and pay related fees and
expenses.
The senior notes to be offered have not been and will not be
registered under the Securities Act of 1933 and may not be offered
or sold in the United States
absent registration or an applicable exemption from registration
requirements. This press release shall not constitute an
offer to sell or a solicitation of an offer to buy such notes and
is issued pursuant to Rule 135c under the Securities Act of
1933.
OMNOVA Solutions Inc. is a technology-based company with last
twelve month sales through August
2010 of $827 million and a
workforce of approximately 2,300 employees worldwide. OMNOVA
is an innovator of emulsion polymers, specialty chemicals, and
decorative and functional surfaces for a variety of commercial,
industrial and residential end uses. Visit OMNOVA Solutions
on the internet at www.omnova.com.
SOURCE OMNOVA Solutions Inc.
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