OCI Announces Partial Redemption of its Senior Secured Notes due 2024 and 2025
29 March 2021
OCI N.V. (Euronext: OCI) today announced that it has exercised the option to redeem 10% of its 5.25% Senior Secured Notes due 2024 and 10% of its 4.625% Senior Secured Notes due 2025, or a total redemption of $60 million and $40 million of the aggregate principal amounts of the respective Notes outstanding, each at a redemption price of 103% of the principal amount thereof. The redemption date is April 8, 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.