UCAR Completes Additional Senior Notes Offering

May 07, 2002 by Jeff Shepard

UCAR International Inc. (Wilmington, DE) announced that the closing of its $150.0 million private offering of additional senior notes due 2012 was completed. The issue price of the additional senior notes was 104.5 percent of the principal amount, plus accrued interest, with the first semi-annual interest payment due August 15, 2002.

The additional senior notes have an annual coupon rate of 10.25 percent and, as a result of the price, the yield to maturity on the additional senior notes is approximately 9.53 percent. The company intends to use the net proceeds from this offering for the repayment of debt under its senior secured credit facilities.