Axiall Corporation Announces Closing of $688 Million Senior Notes Offering
by Its Subsidiary Eagle Spinco Inc.
ATLANTA -- January 30, 2013
Axiall Corporation (NYSE: AXLL) (“Axiall”) today announced the closing of the
previously announced private placement of $688 million in aggregate principal
amount of 4.625% senior notes due 2021 (the "Notes") by its wholly owned
subsidiary Eagle Spinco Inc. (“Splitco”).
The Notes were issued by Splitco, which became a wholly owned subsidiary of
Axiall following the combination of Axiall (formerly known as Georgia Gulf
Corporation) and the commodity chemicals business of PPG Industries, Inc
(“PPG”). As previously announced, PPG separated its commodity chemicals
business and, effective January 28, 2013, merged it with a wholly owned
subsidiary of Axiall. Splitco was formed to hold the commodity chemicals
The Notes were initially issued by Splitco to PPG as partial consideration for
Splitco’s acquisition of PPG’s commodity chemicals business in the separation.
Neither Axiall Corporation nor Splitco received any net proceeds from the sale
of the Notes.
The offering of the Notes was made in a private transaction in reliance upon
an exemption from the registration requirements of the Securities Act of 1933,
only in the United States to investors who are “qualified institutional
buyers,” as that term is defined in Rule 144A under the Securities Act, or
outside the United States to investors who are persons other than “U.S.
persons,” as that term is defined in Rule 902 under the Securities Act, in
offshore transactions in reliance upon Regulation S under the Securities Act.
The Notes have not been registered under the Securities Act of 1933 or any
state securities laws and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirements. This press release does not constitute an offer to sell or the
solicitation of an offer to buy any security and shall not constitute an
offer, solicitation or sale in any jurisdiction in which such offer,
solicitation or sale would be unlawful This release is being issued pursuant
to and in accordance with Rule 135c under the Securities Act.
Axiall Corporation is a leading integrated chemicals and building products
company. It is an international manufacturer of chlor-alkali and derivatives,
chlorovinyls and aromatics products including chlorine, caustic soda, vinyl
chloride monomer, chlorinated solvents, calcium hypochlorite, ethylene
dichloride, muriatic acid, phosgene derivatives, polyvinyl chloride, vinyl
compounds, acetone, cumene and phenol. It also manufactures vinyl-based
building and home improvement products that are marketed under Royal Building
Products and Exterior Portfolio brands, including window and door profiles,
mouldings, siding, pipe and pipe fittings, and decking. Axiall, headquartered
in Atlanta, Georgia, has manufacturing facilities located throughout North
America and in Asia to provide industry-leading materials and services to
Martin Jarosick, 770-395-4524
Alan Chapple, 770-395-4538
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