OCI N.V. Announces a Conditional Notice of Redemption of all of its Outstanding $650,000,000 6.625% Senior Secured Notes Due 2023
08 September 2020
OCI N.V. (Euronext: OCI) today announced that it has given notice (the "Notice") to the holders of its $650,000,000 6.625% Senior Secured Notes due 2023 (the "Notes") of the conditional redemption of all of the aggregate principal amount of the outstanding Notes.
The redemption date is expected to be October 15, 2020 (the "Redemption Date"). The redemption of the Notes is conditional upon satisfaction of the Condition Precedent (as discussed below).
The redemption price will be 103.3125% 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 the receipt by the Issuer of additional funding 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").