OCI Announces Conditional Redemption of IFCo Bonds
18 January 2021
OCI N.V. (Euronext: OCI) today announced that Iowa Fertilizer Company LLC exercised the option to redeem the outstanding principal amount of the 5.875% c.$147.2 million of Iowa Finance Authority Midwestern Disaster Area Revenue Refunding Bonds (Iowa Fertilizer Company Project), Series 2016, due 2026 and 2027. The expected redemption date is February 1, 2021.
This transaction is expected to result in additional recurring cash interest savings 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.