This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Axiall Corporation Announces Initial Purchase Of 9% Senior Secured Notes Due 2017 And Receipt Of Requisite Consents To Amend The Indenture In Cash Tender Offer And Consent Solicitation

Axiall Corporation (NYSE: AXLL), formerly known as Georgia Gulf Corporation (the “ Company”), today announced that it has accepted for purchase approximately $444.6 million aggregate principal amount of its $450.0 million aggregate principal amount of 9% Senior Secured Notes due 2017 (CUSIP Nos. 373200AV6 and U37332AG5) (the “ Notes”) representing all Notes that were validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on January 31, 2013 (the “ Consent Payment Deadline”), pursuant to the Company’s previously announced cash offer to purchase and consent solicitation (the “ Tender Offer”) for any and all of its outstanding Notes.

The Company used the net proceeds from its private offering of $450.0 million aggregate principal amount of 4.875% Senior Notes due 2023 (the “ Offering”), together with cash on hand, to fund the purchase of the Notes for the tender offer consideration of $1,094.23 per $1,000 principal amount of the purchased Notes, to make the related consent payments of $30.00 per $1,000 principal amount of the purchased Notes and to pay the accrued and unpaid interest on the purchased Notes. The Company expects to use cash on hand and available borrowings to fund the purchase price of any additional Notes that are validly tendered pursuant to, and to redeem any and all of the Notes that remain outstanding following the consummation of, the Tender Offer, as well as to pay any accrued and unpaid interest and the related tender or redemption expenses.

The Company also received sufficient consents to approve the proposed amendments to the indenture dated as of December 22, 2009 (as supplemented or amended, the “ Indenture”), governing the Notes. The Company, the guarantors party thereto and the trustee for the Notes have entered into a supplemental indenture implementing these amendments.

The completion of the Offering satisfied the financing condition to the Tender Offer, and the receipt of the requisite consents and execution of the supplemental indenture to effect the amendments to the Indenture satisfied the supplemental indenture condition to the Tender Offer. As previously announced, on January 28, 2013, the Company completed its merger with PPG Industries Inc.’s commodity chemicals business, the completion of which was also a condition to the Tender Offer.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs