Eastman Chemical To Offer $250 Million Of Notes

(Comment on this article at http://www.financialwire.net/2009/10/29/eastman-chemical-to-offer-250-million-of-notes/)

October 29, 2009 (FinancialWire) -- Eastman Chemical Co. (NYSE: EMN) is launching a public offering of $250 million 10-year notes due 2019 with a coupon of 5.5%. Citigroup Global Markets (NYSE: C) and J. P. Morgan Securities (NYSE: JPM) are serving as joint book-running managers.

The closing of the offering is scheduled to occur on November 2.

Eastman plans to use the net proceeds from the sale of the notes for general corporate purposes, which may include funding of pension plan obligations and repayment of borrowings outstanding.

Kingsport, Tennessee-based Eastman makes chemicals, fibers and plastics that are used as ingredients in a range of products.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

http://www.financialwire.net

Related terms: chemicals, corporate, nyse, plastics, products, public offering, securities, tennessee, web