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Solutia files to sell $600 million in debt

US chemicals company Solutia Inc. filed with the Securities and Exchange Commission to periodically sell up to US$ 600 million in debt securities, common and preferred stock and warrants.
The St. Lou…

US chemicals company Solutia Inc. filed with the Securities and Exchange Commission to periodically sell up to US$ 600 million in debt securities, common and preferred stock and warrants. The St. Louis-based company plans to use the net proceeds to repay commercial paper and existing long-term debt, for capital expenditures, working capital, acquisitions and general corporate purposes, its shelf registration filing said. Under a shelf registration, a company may sell securities from time-to-time in one or more separate offerings in amounts, at prices and on terms to be determined at the time of sale.

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