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Owens Corning issues 10-year senior notes

25 March 1999: US-based Owens Corning has announced the issuance of US$ 250 million in 10-year senior notes with a 7.037% yield and a 7% coupon rate.
“We are delighted with the market“s reception to…

25 March 1999: US-based Owens Corning has announced the issuance of US$ 250 million in 10-year senior notes with a 7.037% yield and a 7% coupon rate. “We are delighted with the market“s reception to our offering, which was again oversubscribed, and also with the low interest rates on these notes,” said Glen H. Hiner, Owens Corning“s chairman and chief executive officer. “Proceeds from the offering will be used to reduce our borrowings under Owens Corning“s US Bank Credit Facility.” The offering was underwritten by Credit Suisse First Boston and Goldman, Sachs & Co. Owens Corning produces building materials in glass fibre composites systems with sales of US$ 5 billion and approximately 20,000 employees worldwide.

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