Union Carbide redeemed all of its outstanding $350 million of 9.75% senior subordinated notes due April 15, 1994 as part of its debt strategy. The notes were redeemed at a price equal to 101.625% of the principal amount. The redemption will not have a material effect on earnings. In another transaction, both Union Carbide and Union Carbide Industrial Gases signed credit agreements with groups of banks that will provide UCIG with $1 billion in credit and Union Carbide with $850 million in credit.
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|Title Annotation:||redeems senior subordinated notes and signs credit agreements|
|Article Type:||Brief Article|
|Date:||May 1, 1992|
|Next Article:||Uniroyal Adhesives and Sealants.|