Ashland Inc. Extends and Completes Debt Tenders and Consent Solicitations
Press Release
Ashland Inc. Extends and Completes Debt Tenders and Consent Solicitations
(Logo: http://www.newscom.com/cgi-bin/prnh/20040113/ASHLANDLOGO )
Ashland has accepted for payment all Notes that were validly tendered prior to 11:15 a.m., New York time, on June 30, 2005, in accordance with the terms and subject to the conditions of the applicable tender offers described in the Offer to Purchase. The percentages of each series of Notes accepted for purchase is set forth in the table below. Settlement in respect of such Notes occurred today promptly following expiration of the tender offers.
As previously announced, Ashland received from its noteholders the requisite consents to the proposed amendments to the Indenture relating to its Notes described in the Offer to Purchase, and such amendments became effective on June 29, 2005 and are operative with respect to any Notes that remain outstanding.
This news release is neither an offer to purchase nor a solicitation of an offer to sell the Notes. The tender offers and consent solicitations were being made only by the Offer to Purchase.
Credit Suisse First Boston LLC acted as the exclusive Dealer Manager and Solicitation Agent for the tender offers and consent solicitations. Questions regarding the tender offers or the consent solicitations may be directed to Credit Suisse First Boston LLC at (800) 820-1653 (toll-free) or (212) 325-3784 (collect), or in writing at Eleven Madison Avenue, New York, New York 10010, Attention: Liability Management Group.
About Ashland Inc.
Ashland Inc. (NYSE: ASH) is a Fortune 500 chemical and transportation construction company providing products, services and customer solutions throughout the world. To learn more about Ashland Inc., visit http://www.ashland.com.
NOTES
Outstanding
Principal Amount
Title of Prior to Tender Percentage
Series Securities CUSIP Offers Tendered
6.625% 6.625% Senior 044204AC9 $150,000,000 96.36 %
Senior Notes due
Notes February 15,
2008
8.800% 8.800% 044540AH5 $250,000,000 91.95 %
Debentures Debentures due
November 15,
2012
Series E Total = $115,000,000 93.04 %
Notes
7.000% Medium- 04454CCX2 $5,000,000 100.00 %
Term Notes
due July 30,
2008
8.880% Medium- 04454CBU9 $15,000,000 100.00 %
Term Notes
due December 27,
2011
8.700% Medium- 04454CBV7 $3,000,000 100.00 %
Term Notes
due December 30,
2011
8.620% Medium- 04454CBW5 $3,000,000 100.00 %
Term Notes
due January 16,
2012
8.990% Medium- 04454CCH7 $5,000,000 100.00 %
Term Notes
due April 13,
2012
8.960% Medium- 04454CCJ3 $3,000,000 100.00 %
Term Notes
due April 25,
2012
8.250% Medium- 04454CCU8 $10,000,000 100.00 %
Term Notes
due February 12,
2013
9.080% Medium- 04454CCG9 $5,000,000 100.00 %
Term Notes
due March 31,
2013
7.720% Medium- 04454CCW4 $10,000,000 20.00 %
Term Notes
due July 15,
2013
7.730% Medium- 04454CCV6 $15,000,000 100.00 %
Term Notes
due July 15,
2013
7.650% Medium- 04454CCZ7 $15,000,000 100.00 %
Term Notes
due August 5,
2013
7.750% Medium- 04454CCY0 $10,000,000 100.00 %
Term Notes
due August 6,
2018
8.810% Medium- 04454CCM6 $10,000,000 100.00 %
Term Notes
due June 3,
2022
8.780% Medium- 04454CCN4 $3,000,000 100.00 %
Term Notes
due June 10,
2022
7.150% Medium- 04454CDC7 $3,000,000 100.00 %
Term Notes
due September 20,
2023
Series F Total = $86,500,000 86.93 %
Notes
7.900% Medium- 04454CDG8 $10,000,000 83.96 %
Term Notes
due August 5,
2006
7.790% Medium- 04454CDH6 $15,000,000 92.00 %
Term Notes
due August 9,
2006
8.430% Medium- 04454CDJ2 $10,000,000 100.00 %
Term Notes
due October 18,
2006
8.230% Medium- 04420QAF3 $10,000,000 100.00 %
Term Notes
due February 26,
2007
7.860% Medium- 04420QAJ5 $10,000,000 100.00 %
Term Notes
due March 23,
2007
8.625% Medium- 04420QAC0 $10,000,000 100.00 %
Term Notes
due February 10,
2015
8.380% Medium- 04420QAK2 $16,500,000 48.48 %
Term Notes
due April 1,
2015
8.630% Medium- 04420QAE6 $5,000,000 100.00 %
Term Notes
due February 21,
2025
Series G Total = $154,000,000 88.61 %
Notes
7.100% Medium- 04420QAZ9 $5,000,000 0.00 %
Term Notes
due October 10,
2005
7.220% Medium- 04420QAT3 $10,000,000 100.00 %
Term Notes
due August 9,
2006
7.400% Medium- 04420QAV8 $12,000,000 78.83 %
Term Notes
due September
19, 2006
7.280% Medium- 04420QAW6 $15,000,000 100.00 %
Term Notes
due October 4,
2006
7.250% Medium- 04420QAX4 $15,000,000 100.00 %
Term Notes
due October 9,
2006
7.160% Medium- 04420QAY2 $20,000,000 75.00 %
Term Notes
due October 9,
2006
6.990% Medium- 04420QBB1 $10,000,000 100.00 %
Term Notes
due November 6,
2006
6.900% Medium- 04420QBC9 $12,000,000 100.00 %
Term Notes
due November 14,
2006
7.710% Medium- 04420QAN6 $20,000,000 75.00 %
Term Notes
due May 11,
2007
7.200% Medium- 04420QBA3 $10,000,000 100.00 %
Term Notes
due October 15,
2007
7.560% Medium- 04420QAS5 $10,000,000 100.00 %
Term Notes
due August 9,
2016
7.780% Medium- 04420QAU0 $15,000,000 100.00 %
Term Notes
due September
19, 2016
Series H 6.860% Medium- 04420QBD7 $150,000,000 88.60 %
Notes Term Notes
due May 1,
2009
Series J 7.830% Medium- 04420QBJ4 $228,630,000 80.99 %
Notes Term Notes
due August 15,
2005
SOURCE Ashland Inc.
-0- 06/30/2005
/CONTACT: Media Relations, Ken Gordon, +1-859-815-4195, or mobile,
+1-614-886-4424, or kdgordon@ashland.com, or Investor Relations, Daragh
Porter, +1-859-815-3825, or dlporter@ashland.com/
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/Web site: http://www.ashland.com/
(ASH)
CO: Ashland Inc.
ST: Kentucky
IN: OIL
SU: OFR
JK-DL
-- CLTH079 --
7973 06/30/2005 16:51 EDT http://www.prnewswire.com
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
Statements in this press release regarding Ashland's business which are not historical
facts are "forward-looking statements" that involve risks and uncertainties. For a
discussion of such risks and uncertainties, which could cause actual results to differ from
those contained in the forward-looking statements, see "Risk Factors" in the Company's
Annual Report or Form 10-K for the most recently ended fiscal year.