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Koppers Inc. Commences
Offering of $300,000,000 of Senior Secured Notes
PITTSBURGH, September 19, 2003 — Koppers
Inc. (“Koppers”) announced today that it had commenced
an offering of $300,000,000 of Senior Secured Notes Due 2013. Koppers
plans to use the net proceeds of the offering to redeem all of
its 9 7/8% senior subordinated notes due 2007, repay a portion
of its borrowings under its bank credit facility and pay a dividend
to shareholders. The offering is subject to market and other conditions.
The
notes will be senior secured obligations of Koppers and will mature
in 2013 with interest payable semi-annually. The notes will
be guaranteed by each of Koppers’ wholly-owned subsidiaries
that guarantees Koppers’ bank credit facility and will be
secured by substantially all of the domestic assets of Koppers
and its domestic subsidiaries and a portion of the foreign assets
of Koppers and its subsidiaries.
Koppers is offering the notes in
reliance upon an exemption from registration under the Securities
Act of 1933 for an offer and
sale of securities that does not involve a public offering. The
notes have not been registered under the Securities Act and may
not be offered or sold in the United States absent registration
or an applicable exemption from registration. This news release
does not constitute an offer to sell or the solicitation of an
offer to buy any security and shall not constitute an offer,
solicitation or sale in any jurisdiction in which it would be unlawful.
About Koppers
Koppers Inc., with corporate headquarters in Pittsburgh, is a global
integrated producer of carbon compounds and treated wood products
for use by the utility, construction, railroad, aluminum, chemical
and steel industries. Koppers operates 39 facilities in the United
States, Europe, Australia, New Zealand, Malaysia and South Africa.
The company has an indirect ownership interest in KSA Limited
Partnership, a concrete crosstie manufacturer in Portsmouth,
Ohio. The company’s stock is shared by a large number of
employee investors and by majority equity owner Saratoga Partners
of New York, N.Y.
Any statements made in this news release, other than those
of historical fact, about an action, event or development,
which the Company hopes, believes or anticipates may or will
occur in future, are “forward-looking statements” under
U. S. securities laws. Such statements are subject to various
assumptions, risks and uncertainties, which are specifically
described in our Annual Report on Form 10-K for fiscal year
ended December 31, 2002 filed with the Securities and Exchange
Commission. Forward-looking statements are not guarantees of
future performance or an assurance that the Company’s
current assumptions and projections are valid. Actual results
may differ materially from those projected.
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