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Rockwood Press Release
Rockwood Plans to Use Cash and Raise New
Tranche of Term Loan A Under Senior Secured Credit Facility
to Redeem Outstanding Notes
Princeton, NJ USA (January 27, 2012) – Rockwood Holdings, Inc. (NYSE: ROC) today announced that its subsidiary, Rockwood Specialties Group, Inc., plans to use cash on hand and raise a new tranche of term loan A under its existing senior credit facility to redeem all of its outstanding senior subordinated notes, consisting of € 250.1 million in aggregate principal amount of 7.625% euro-denominated notes and $200 million in aggregate principal amount of 7.5% dollar-denominated notes. The notes are due on November 15, 2014. The new term loan is expected to be in the amount of $350.0 million and have a maturity of five years.
Commenting on the action, Seifi Ghasemi, Rockwood chairman and chief executive officer, said, "This new term loan and the repayment of all outstanding notes are consistent with our stated objective of reducing our debt levels and annual interest expense."
Rockwood Holdings, Inc. is a leading global specialty chemicals and advanced materials company. Rockwood has a worldwide employee base of approximately 9,700 people and annual net sales of approximately $3.5 billion. The company focuses on global niche segments of the specialty chemicals, pigments and additives and advanced materials markets. For more information on Rockwood, please visit www.rocksp.com.
The information set forth in this press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 concerning the business, operations and financial condition of Rockwood Holdings, Inc. and its subsidiaries and affiliates ("Rockwood"). Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "predicts" and variations of such words or expressions are intended to identify forward-looking statements. Although Rockwood believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized. "Forward-looking statements" consist of all non-historical information, including any statements referring to the prospects and future performance of Rockwood. Actual results could differ materially from those projected in Rockwood's forward-looking statements due to numerous known and unknown risks and uncertainties, including, among other things, the "Risk Factors" described in Rockwood's 2010 Form 10-K on file with the Securities and Exchange Commission. Rockwood does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
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