PolyOne Corporation Announces $360 Million Offering

PolyOne Corporation POL today announced the pricing of $360 million of senior notes in an underwritten public offering. The offering consists of $360 million aggregate principal amount of 7.375% senior notes issued at par due September 2020. Interest on the notes will be paid semi-annually on March 15 and September 15. The offering is expected to close on or about September 24, 2010, subject to customary closing conditions. The offering was increased from the previously announced $320 million, resulting in net proceeds to PolyOne of approximately $353 million, after subtracting the underwriting discount and estimated offering expenses. PolyOne intends to use the net proceeds of the offering to finance the Company's cash tender offer for any and all of its $280 million outstanding 8.875% Senior Notes due 2012. The remaining net proceeds will be used for general corporate purposes.