PQ Group Holdings Announces Proposed Full Redemption of 2022 $625 Million Senior Secured Notes

Jun 22, 2020

PQ Group Holdings Inc. (NYSE:PQG, Financial), a leading integrated and innovative global provider of specialty catalysts, materials, chemicals and services, announced today that its indirect, wholly owned subsidiary, PQ Corporation (the “Issuer”), is proposing to redeem all of its outstanding $625 million aggregate principal amount of 6.75% Senior Secured Notes due 2022 (the “2022 Notes”) on July 22, 2020 (the “Redemption Date”), subject to, and conditioned upon, the receipt by the Issuer no later than the Redemption Date of net proceeds from one or more debt financings on terms and conditions satisfactory in all respects to the Issuer in its sole discretion that are sufficient, together with cash on hand, to pay the aggregate redemption price of, and accrued and unpaid interest to the date of redemption on, the 2022 Notes, as well as associated fees and expenses (the “Redemption Condition”). This press release does not constitute a notice of redemption of, or an obligation to issue a notice of redemption of, the 2022 Notes. The Redemption Date may be extended by the Issuer pending satisfaction of the Redemption Condition. If the Redemption Condition is not satisfied, the Issuer is not required to redeem the 2022 Notes and they may remain outstanding.

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