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olin corp
Olin Corporation Announces Closing of $750 Million Senior Notes Due 2029 and the Closing of Replacement Credit Facilities

Olin Corporation announced the closing of its previously announced offering of $750 million aggregate principal amount of Senior Notes due 2029 and the closing of its previously announced replacement credit facilities. The Senior Notes mature on August 1, 2029, have an interest rate of 5.625% and were issued at 100.000% of par value. The net proceeds from the offering were used to prepay all of the term loans outstanding under its senior term loan credit facility and all of the loans outstanding under its receivables financing credit facility, and Olin expects to use the remaining net proceeds to pay fees and expenses and fund general corporate purposes. The replacement credit facilities provide for a revolving credit facility with aggregate credit commitments of $800 million and a delayed-draw term loan facility in an aggregate principal amount of up to $1.2 billion. Borrowings under the replacement credit facilities will bear interest at rates determined based on the company's leverage ratio or, should Olin achieve and maintain investment grade credit ratings, on its credit ratings.

Olin Corporation Provides Earnings Guidance for the Full Year 2019

Olin Corporation provided earnings guidance for the full year 2019. The company now expects full year 2019 net income of $128 million to $203 million.

Olin Corporation Appoints Heidi S. Alderman as New Director by Olin's Board of Directors to Serve on Olin's Board Effective August 8, 2019

Olin Corporation announced that Heidi S. Alderman, 59, was appointed as a new director by Olin's Board of Directors to serve on Olin's Board effective August 8, 2019. Ms. Alderman is Senior Vice President, Intermediates of BASF Corporation (a global chemical manufacturing company), a position she has held since 2016.

Olin Corporation Approves Amendment to Article II, Section 1 of Bylaws, Effective June 14, 2019

The Board of Olin Corporation approved an amendment to Article II, Section 1 of company's Bylaws to increase the size of the Board from ten to eleven directors, effective June 14, 2019.

Olin Corporation Announces Appointment of Beverley A. Babcock as Director, Effective June 14, 2019

Olin Corporation announced that Beverley A. Babcock, was appointed as a new director by Olin's Board of Directors to serve on Olin's Board effective June 14, 2019. Ms. Babcock retired in May 2018 from her position as Senior Vice-President, Finance and Administration and Controller of Imperial Oil Limited (a publicly-held Canadian petroleum company with 69.6% ownership by ExxonMobil Corporation), a position she held since September 2015.


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