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Contact:
Jodi Allen (Investor Relations)
(973) 357-3283
Cytec Announces Pricing of Debt
Offering
Woodland Park, New Jersey, June 30, 2009 – Cytec Industries Inc.
(NYSE:CYT) today announced that it has priced an offering of
$250 million aggregate principal amount of 8.95% senior
unsecured notes due 2017. The offering is expected to close on
Monday, July 6, 2009, subject to customary closing conditions.
Cytec intends to apply all or a portion of the net proceeds from
the offering of the notes toward the payment of the purchase
price in tender offers, which it announced today, for certain
outstanding debt securities. Cytec intends to add any remaining
net proceeds from the sale of the notes to general corporate
funds that may be used for, without limitation, the repayment at
maturity or repurchases of any remaining principal amount of its
5.50% Notes due October 1, 2010, repayment of short-term
borrowings or other debt or any other general corporate purpose.
Citigroup Global Markets Inc., Goldman, Sachs & Co., RBS
Securities Inc., and Wachovia Capital Markets, LLC are acting as
joint book-running managers for the offering of the notes. A
registration statement relating to the notes has been filed with
the Securities and Exchange Commission and has become effective.
Copies of the prospectus supplement and accompanying prospectus
relating to the offering may be obtained by visiting EDGAR on
the SEC’s web site at www.sec.gov or by contacting: Citigroup
Global Markets Inc. at (877) 858-5407, Goldman, Sachs & Co. at
(866) 471-2526, RBS Securities Inc. at (866) 884-2071, or
Wachovia Capital Markets, LLC at (800) 326-5897.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the notes nor shall there
be any sale of the notes in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any
such jurisdiction. The offering of the notes is being made only
by means of the prospectus supplement and accompanying
prospectus.
Forward-Looking and Cautionary Statements
Except for the historical information and discussions contained
herein, statements contained in this release may constitute
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Achieving the results
described in these statements involves a number of risks,
uncertainties and other factors that could cause actual results
to differ materially, as discussed in Cytec’s filings with the
Securities and Exchange Commission.
Corporate Profile
Cytec Industries Inc. is a global specialty chemicals and
materials company focused on developing, manufacturing and
selling value-added products. Our products serve a diverse range
of end markets including aerospace, adhesives, automotive and
industrial coatings, chemical intermediates, inks, mining and
plastics. We use our technology and application development
expertise to create chemical and material solutions that are
formulated to perform specific and important functions in the
finished products of our customers.
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