Home / Knowledge / News / Textiles / Solvay redeems high-yield notes early to reduce gross debt
Solvay redeems high-yield notes early to reduce gross debt
03
Apr '14
Solvay announces that its affiliate Rhodia SA will redeem in advance its two high-yield senior notes as part of the Group's aim to significantly reduce its gross debt.
 
Rhodia SA has notified the bond holders of its decision to fully and irrevocably redeem its €500 million high-yield notes, with an annual interest rate of 7 percent and due in 2018, as well as its US$400 million high-yield notes, with an interest rate of 6.875 percent and due in 2020. Solvay will simultaneously repay the notes on May 15th with its available cash.
 
"Solvay is proactively managing its capital structure aiming to optimize asset efficiency while maintaining appropriate liquidity levels. By June 2015, Solvay will have halved its gross debt, paying off 1.8 billion euros within 18 months," said Karim Hajjar, Solvay's Chief Financial Officer. "As a result, Solvay will accelerate a reduction of net interest charges and of negative carry."
 

Solvay


Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search