Ashland Inc. Announces Pricing of Senior Notes Due 2017

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05/19/2009

Ashland Inc. Announces Pricing of Senior Notes Due 2017

Ashland Inc. Announces Pricing of Senior Notes Due 2017 18.3 KB

COVINGTON, Ky., May 19, 2009 /PRNewswire-FirstCall via COMTEX News Network/ -- Ashland Inc. (NYSE: ASH) today announced that it has priced $650 million of 9.125% senior unsecured notes (the "Notes"). The offering was increased from a previously announced size of $600 million. The Notes, due June 1, 2017, will be issued at 96.577% of the principal amount to yield 9.75%. The transaction is expected to close May 27, 2009, subject to certain closing conditions.

(Logo: http://www.newscom.com/cgi-bin/prnh/20040113/ASHLANDLOGO )

Ashland intends to use the net proceeds from the offering, together with available liquidity, to repay in full its existing $750 million bridge loan and to pay fees and expenses in connection with the offering and the repayment of the indebtedness.

The Notes are being sold in the United States to qualified institutional buyers in reliance on Rule 144A and outside the United States in compliance with Regulation S, under the Securities Act of 1933. These Notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the Notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

Ashland Inc. (NYSE: ASH) provides specialty chemical products, services and solutions for many of the world's most essential needs and industries. Serving customers in more than 100 countries, it operates through five commercial units: Ashland Aqualon Functional Ingredients, Ashland Hercules Water Technologies, Ashland Performance Materials, Ashland Consumer Markets (Valvoline) and Ashland Distribution. To learn more about Ashland, visit www.ashland.com.

SOURCE Ashland Inc.

http://www.ashland.com