Avient Corporation Issues $650 Million in Senior Unsecured Notes - What You Need to Know
Avient Corporation (NYSE:AVNT) has recently announced the issuance of $650 million in senior unsecured notes, maturing on November 1, 2031. These notes carry a 6.25% interest rate and will be payable semi-annually on May 1 and November 1, starting from May 1, 2025. The indenture includes standard provisions that restrict Avient's activities to protect the interests of note holders.
In the event of a change of control, Avient must offer to repurchase the notes at 101% of their principal amount. The company also has the option to redeem the notes starting on September 15, 2027, at specified prices. Recent financial performance highlights a 3% increase in sales for Q2 2024, with organic sales growing by 5% and adjusted earnings per share increasing by 21%.
Avient Corporation plans to use the proceeds from the offering of senior notes to redeem its outstanding notes due in 2025. The company has raised its full-year adjusted EBITDA guidance and expects a 9% increase in third-quarter earnings per share. An Investor Day is scheduled for December 4th in New York City to discuss the company's strategic plan.
In conclusion, Avient Corporation's recent financial moves and performance indicate a positive outlook for the company's growth and sustainability initiatives. Investors should pay attention to the company's strategic decisions and financial results to make informed decisions about their investments.
This article provides a detailed overview of Avient Corporation's recent financial activities and performance, highlighting key information for investors and stakeholders. Whether you're a seasoned investor or new to the financial market, understanding these developments can help you make informed decisions about your finances and investments. Stay tuned for more updates on Avient Corporation and its impact on the market.