Israel Chemicals Ltd. said May 22 that it accepted for purchase US$600.1 million aggregate principal amount of 4.500% senior notes due 2024, following the close of the previously announced tender offer.
The company will pay a total of US$605.1 million, or US$1,008.22 per US$1,000 principal amount of the notes accepted for purchase. It will fund the transaction with cash on hand, short-term borrowings and its revolving credit facility.
The settlement is expected to occur on May 29. Following the offer, a total of US$199.9 million aggregate principal amount of 2024 notes will remain outstanding.
