dollars in an aggregate amount equal to the initial dollar balance of the
Euro notes and the payment of basic interest on the notes in U.
These transactions are synthetic collateralised debt obligations (CDOs) backed by collateral securities partially funded by the net proceeds of the issue of the notes (via conversion into euros of the non
euro notes through currency swaps with BNP Paribas (rated 'AA/F1+').
We are pleased to have finalized the
Euro Note restructuring, which is beneficial for both the holders of the
Euro Notes and for Solutia Europe," said Jeffry N.
25%
Euro Notes, due in 2005 to restructure those
Euro Notes in a way that would remove a potential filing by Solutia Inc.
announced today that it was extending its outstanding offer to exchange an aggregate principal amount of up to $225,000,000 newly issued 8-3/4% Senior Subordinated Dollar Notes due 2012, which are registered under the Securities Act of 1933, as amended (the "Securities Act"), for like principal amount of its issued and outstanding privately placed 8-3/4% Senior Subordinated Dollar Notes due 2012, and an aggregate principal amount of up to Euro 150,000,000 newly issued 8-3/4% Senior Subordinated
Euro Notes due 2012, which are registered under the Securities Act, for a like principal amount of its issued and outstanding privately placed 8-3/4% Senior Subordinated
Euro Notes due 2012.
The new euro-currency is set to make its mark in Britain on January 1 in the form of travellers' cheques, three years before the first
euro notes and coins go into circulation.
30, 2004 the ability to accelerate and default the
Euro Notes due to Chapter 11 filing by Solutia; the second step of this
Euro Note agreement will be implemented in a second meeting of
Euro Note holders no later than Jan.
Principal Principal Principal Amount Amount Amount Remaining Title of Security Tendered Repurchased Outstanding 9 1/8% Senior Notes due 2008 $249,457,000 $249,457,000 $954,195,000 11% Senior Notes due 2008 $229,541,000 $229,541,000 $132,495,000 10 1/2% Senior Discount Notes due 2008 $265,880,000 $265,880,000 $143,582,000 10 3/4% Senior
Euro Notes due 2008 EUR 287,250,000 EUR 271,053,000 EUR 49,773,000
Seven
euro notes, ranging in denomination from five to 500 euros, are due to come into circulation from January 1, 2002.
A total of sevenmillion 5, 20 and 50
euro notes were being produced at Debden in Essex for use in 2002, Treasury Economic Secretary Ms Patricia Hewitt said in a Commons written reply.
15, 2004, for its $250 million of 10%-1/8% notes due 2010, EUR200 million of 9%
Euro notes due 2011, and $575 million of 9% notes due 2011.
announced the successful completion of its previously announced offer to exchange (the "Exchange Offer") an aggregate principal amount of up to $225,000,000 newly issued 8-3/4% Senior Subordinated Dollar Notes due 2012, which are registered under the Securities Act of 1933, as amended (the "Securities Act"), for like principal amount of its issued and outstanding privately placed 8-3/4% Senior Subordinated Dollar Notes due 2012, and an aggregate principal amount of up to euro 150,000,000 newly issued 8-3/4% Senior Subordinated
Euro Notes due 2012, which are registered under the Securities Act, for a like principal amount of its issued and outstanding privately placed 8-3/4% Senior Subordinated
Euro Notes due 2012.
