CHARLOTTE, N.C., May 13, 2022
/PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a leader in the
global specialty chemicals industry, today announced that it
intends to redeem all its outstanding 4.150% Senior Notes due 2024
(CUSIP No. 012725 AC1, ISIN No. US012725AC13) (the "Notes")
on June 12, 2022 (the "Redemption Date").
The Notes will be redeemed at a redemption price equal to the
greater of (1) 100% of the principal amount of the Notes and (2)
the sum of the present values of the remaining scheduled payments
of principal and interest on the Notes (exclusive of interest
accrued to the Redemption Date) from the Redemption Date through
the Par Call Date, as defined in the Notes (assuming the Notes
matured on the Par Call Date), in each case discounted to the date
of redemption on a semi-annual basis (assuming a 360-day year
consisting of twelve 30-day months) at the Treasury Rate (as
defined in the Notes) plus 30 basis points, plus in each case,
accrued and unpaid interest on the redeemed Notes to, but not
including, the Redemption Date.
The Notes will be repaid with a portion of the net proceeds from
Albemarle's offering of
$1.7 billion aggregate principal
amount of senior notes completed on May 13,
2022.
Holders of any Notes in certificated form will be paid the
Redemption Price upon presentation and surrender of their Notes for
redemption at the address of the Trustee and Paying Agent indicated
below. Notes in book-entry form must be surrendered
through the facilities of The Depository Trust Company in
the usual manner, and payment of the Redemption Price will be made
through the facilities of The Depository Trust Company in
the usual manner. Notes called for redemption must be so
surrendered to collect the Redemption Price.
Albemarle has
instructed U.S. Bank Trust Company, National Association, as
the Trustee and Paying Agent for the Notes (the "Trustee"), to
distribute a Notice of Redemption to all registered holders of the
Notes on or about May 13, 2022. Copies of such Notice of
Redemption and additional information relating to the procedure for
redemption of the Notes may be obtained from the
Trustee by calling its Bondholder
Communications team at 1-800-934-6802 Monday through Friday
from 8 a.m. Central Time to 6 p.m. Central Time or by
visiting the Trustee and Paying Agent's website at
www.usbank.com/corporatetrust and clicking on the "Bondholder
Information" link for redemption instructions.
This announcement is for informational purposes only and does
not constitute an offer to buy or a solicitation of an offer to
sell, nor shall there be any sale of any of the Notes in any
jurisdiction in which the circumstances of such offer, solicitation
or sale would be unlawful under the securities laws of any such
jurisdiction.
About Albemarle Corporation
Albemarle Corporation (NYSE: ALB) is a global specialty
chemicals company with leading positions in lithium, bromine and
catalysts. We think beyond business as usual to power the potential
of companies in many of the world's largest and most critical
industries, such as energy, electronics, and transportation. We
actively pursue a sustainable approach to managing our diverse
global footprint of world-class resources. In conjunction with our
highly experienced and talented global teams, our deep-seated
values, and our collaborative customer relationships, we create
value-added and performance-based solutions that enable a safer and
more sustainable future.
Forward-Looking Statements
Some of the information presented in this press release,
including, without limitation, the Company's ability to complete
the redemption and reduce its outstanding indebtedness, and all
other information relating to matters that are not historical facts
may constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Actual results
could differ materially from the views expressed. Factors that
could cause Albemarle's actual
results to differ materially from the view expressed or implied in
any forward-looking statement include, without limitation: changes
in economic and business conditions; changes in financial and
operating performance of its major customers and industries and
markets served by it; the timing of orders received from customers;
the gain or loss of significant customers; market correction in
lithium market pricing; changes with respect to contract
renegotiations; potential production volume shortfalls; competition
from other manufacturers; changes in the demand for its products or
the end-user markets in which its products are sold; limitations or
prohibitions on the manufacture and sale of its products;
availability of raw materials; increases in the cost of raw
materials and energy, and its ability to pass through such
increases to its customers; technological change and development,
changes in its markets in general; fluctuations in foreign
currencies; changes in laws and government regulation impacting its
operations or its products; the occurrence of regulatory actions,
proceedings, claims or litigation (including with respect to the
U.S. Foreign Corrupt Practices Act and foreign anti-corruption
laws); the occurrence of cyber-security breaches, terrorist
attacks, industrial accidents or natural disasters, the effect of
climate change, including any regulatory changes to which it might
be subject; hazards associated with chemicals manufacturing; the
inability to maintain current levels of insurance, including
product or premises liability insurance, or the denial of such
coverage; political unrest affecting the global economy, including
adverse effects from terrorism or hostilities; political
instability affecting our manufacturing operations or joint
ventures; changes in accounting standards; the inability to achieve
results from its global manufacturing cost reduction initiatives as
well as its ongoing continuous improvement and rationalization
programs; changes in the jurisdictional mix of its earnings and
changes in tax laws and rates or interpretation; changes in
monetary policies, inflation or interest rates that may impact its
ability to raise capital or increase its cost of funds, impact the
performance of its pension fund investments and increase its
pension expense and funding obligations; volatility and
uncertainties in the debt and equity markets; technology or
intellectual property infringement, including cyber-security
breaches, and other innovation risks; decisions it may make in the
future; future acquisition and divestiture transactions, including
the ability to successfully execute, operate and integrate
acquisitions and divestitures and incurring additional
indebtedness; continuing uncertainties as to the duration and
impact of the coronavirus (COVID-19) pandemic; performance of
Albemarle's partners in joint
ventures and other projects; changes in credit ratings; and the
other factors detailed from time to time in the reports
Albemarle files with the SEC,
including those described under "Risk Factors" in Albemarle's most recent Annual Report on Form
10-K any subsequently filed Quarterly Reports on Form 10-Q. These
forward-looking statements speak only as of the date of this press
release. Albemarle assumes no
obligation to provide any revisions to any forward-looking
statements should circumstances change, except as otherwise
required by securities and other applicable laws.
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SOURCE Albemarle Corporation