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New Issue-Solutia Inc sells $400 mln 8-yr notes

Fri Oct 9, 2009 12:22pm EDT

Stocks

    
  Oct 9 (Reuters) - Solutia Inc (SOA.N) on Friday sold $400
million of senior notes, said IFR, a Thomson Reuters service.
  The size of the deal was increased from an originally
planned $300 million.
  Deutsche Bank, Jefferies, Citigroup, and J.P. Morgan were
the joint bookrunning managers for the sale.
BORROWER: SOLUTIA INC
AMT $400 MLN      COUPON 8.75 PCT     MATURITY 11/1/2017 
TYPE SR NOTES     ISS PRICE 100       FIRST PAY 5/1/2010 
MOODY'S B2        YIELD 8.75 PCT      SETTLEMENT 10/15/2009
S&P SINGLE-B      SPREAD N/A          PAY FREQ SEMI-ANNUAL
FITCH N/A                             NON-CALLABLE 4 YEARS*
*CALL SCHEDULE 104.375, 102.188, 100
 MAKE-WHOLE CALL 50 BPS
 EQUITY CLAW: 3Y 35 PCT AT 108.75



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