Albemarle Corporation announced the commencement of cash tender offers for certain series of its debt securities and the full redemption of its 4.650% Senior Notes due 2027. The Company has commenced cash tender offers for the maximum principal amount of validly tendered (and not validly withdrawn) (i) 5.650% Senior Notes due 2052 (the "2052 Notes"), (ii) 5.450% Senior Notes due 2044 (the "2044 Notes"), (iii) 3.450% Senior Notes due 2029 (the "2029 Notes"), and (iv) 5.050% Senior Notes due 2032 (the "2032 Notes" and, together with the 2052 Notes, 2044 Notes and 2029 Notes, the "Notes") set forth below, such that the aggregate purchase price, not including accrued and unpaid interest, payable in respect of such Notes will not exceed $500 million. The Offers are being made pursuant to an Offer to Purchase, dated March 2, 2026 (the "Offer to Purchase"), which sets forth a description of the terms of the Offers.
A summary of the Offers to purchase the Notes is outlined below: CUSIP Number: 012653AF8, Outstanding Principal: $450,000,000, Reference U.S. Treasury: 4.625% UST due 11/15/2055, Pricing Details: Bloomberg Page FIT 1; Fixed Spread of +140 bps, Early Tender Premium: $50. Priority Level 2: 5.450% Senior Notes due 2044, CUSIP Number: 012725AD9, Outstanding Principal: $350,000,000, Reference U.S. Treasury: 4.625% UST due 2/15/2046, Pricing Details: Bloomberg Page FIT 1; Fixed Spread of +115 bps, Early Tender Premium: $50. Priority Level 3: 3.450% Senior Notes due 2029*, CUSIP Numbers: 01273PAB8, 01273PAA0, Q0171YAA8, Outstanding Principal: $171,612,000, Reference U.S. Treasury: 3.500% UST due 2/15/2029, Pricing Details: Bloomberg Page FIT 1; Fixed Spread of +70 bps, Early Tender Premium: $50.
Priority Level 4: 5.050% Senior Notes due 2032, CUSIP Number: 012653AE1, Outstanding Principal: $600,000,000, Reference U.S. Treasury: 3.500% UST due 2/28/2031, Pricing Details: Bloomberg Page FIT 1; Fixed Spread of +90 bps, Early Tender Premium: $50. Each Offer is scheduled to expire at 5:00 p.m., New York City time, on March 30, 2026, unless extended or earlier terminated by the Company (such date and time, as the same may be extended or earlier terminated with respect to each Offer, the "Expiration Time"). To receive the Total Consideration, holders of the Notes must validly tender and not validly withdraw Notes at or prior to 5:00 p.m., New York City time, on March 13, 2026, unless such deadline is extended with respect to the applicable Offer (such date and time, as the same may be extended with respect to each Offer, the "Early Tender Time"), to be eligible to receive the Total Consideration.
Tenders of Notes may not be validly withdrawn after 5:00 p.m., New York City time, on March 13, 2026 (the "Withdrawal Deadline"), unless extended by the Company with respect to the applicable Offer. After such time, Notes validly tendered may not be validly withdrawn unless such deadline is extended with respect to the applicable Offer, except in certain limited circumstances where additional withdrawal rights are required by law. Payments for Notes validly tendered (and not validly withdrawn) and accepted for purchase at or prior to the Early Tender Time are expected to settle on March 18, 2026 (the "Early Settlement Date").
