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The offering is expected to close on Monday, July 6, subject to customary closing conditions.
Cytec intends to apply all or a portion of the net proceeds from the offering of the notes toward the payment of the purchase price in tender offers, which it announced, for certain outstanding debt securities. Cytec intends to add any remaining net proceeds from the sale of the notes to general corporate funds that may be used for, without limitation, the repayment at maturity or repurchases of any remaining principal amount of its 5.50 percent Notes due October 1, 2010, repayment of short-term borrowings or other debt or any other general corporate purpose.
Citigroup Global Markets, Goldman, Sachs & Co., RBS Securities, and Wachovia Capital Markets are acting as joint book-running managers for the offering of the notes.
Cytec Industries is a specialty chemicals and materials company focused on developing, manufacturing and selling value-added products. Its products serve a diverse range of end markets including aerospace, adhesives, automotive and industrial coatings, chemical intermediates, inks, mining and plastics.
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