Eastman Announces Offering of $250 Million of 3% Notes due 2015 and $250 Million of 4.5% Notes due 2021
KINGSPORT, Tenn., Dec. 1, 2010 - Eastman Chemical Company (NYSE:EMN) today announced the public offering of $250 million of 3% notes due 2015 and $250 million of 4.5% notes due 2021. Citigroup Global Markets Inc., J. P. Morgan Securities LLC and RBS Securities Inc. are serving as joint book-running managers for the offering.
Closing of the offering of notes is expected to occur on December 10, 2010. Eastman intends to use the net proceeds from the sale of the notes to pay for securities purchased in Eastman’s previously announced tender offer for up to $500 million of various series of its outstanding debt securities. Any remaining proceeds will be used for general corporate purposes.
A registration statement, a preliminary prospectus supplement and an issuer free writing prospectus have been filed, and a prospectus supplement relating to the offering of notes will be filed, with the SEC, to which this communication relates. Prospective investors should read the issuer free writing prospectus, preliminary prospectus supplement and accompanying prospectus included in the registration statement and other documents Eastman has filed with the SEC for more complete information about Eastman and the offering of notes. These documents are available at no charge by visiting EDGAR on the SEC’s website at http://www.sec.gov. Alternatively, the prospectus and the prospectus supplement may be obtained from Citigroup Global Markets Inc., 388 Greenwich Street, New York, NY 10013, (tel): (877) 858-5407, J. P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, (tel): (212) 834-4533 or RBS Securities Inc., 600 Washington Boulevard, Stamford, CT 06901, (tel): (866) 884-2071.
This announcement is neither an offer to sell nor a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. The offering of these securities will be made only by means of applicable prospectus supplements and the related prospectus. The securities being offered have not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the registration statement, the prospectus contained therein or the applicable prospectus supplement.
Forward-Looking Statements: This news release includes forward-looking statements concerning, among other things, the offering of notes, the tender offer, and the terms and timing thereof. Such expectations are based upon certain preliminary information, internal estimates, and management assumptions, expectations, and plans, and are subject to a number of risks and uncertainties inherent in projecting future conditions, events, and results. Actual results could differ materially from expectations expressed in the forward-looking statements if one or more of the underlying assumptions or expectations prove to be inaccurate or are unrealized. Important factors that could cause actual results to differ materially from such expectations are detailed in the company’s filings with the Securities and Exchange Commission from time to time, including the Form 10-Q filed for the third quarter of 2010 available on the Eastman web site at www.eastman.com in the Investors, SEC filings section.