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Olin Announces Redemption Of 10% Senior Notes Due 2025
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CLAYTON, Mo., April 14, 2021 /PRNewswire/ Olin Corporation (NYSE: OLN) announced today that it has notified bondholders that it intends to redeem all $185 million of its outstanding 10% senior notes due October 15, 2025 (the Notes ). The Notes are expected to be redeemed on May 14, 2021 at a redemption price in cash of 105% of the principal amount of the Notes (representing an aggregate premium of approximately $9.3 million). The Notes were issued in connection with the 2015 Dow Chlorine Products acquisition. Olin expects to fund the redemption using $195 million of cash generated from operations.
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The Biden administration has put out initial actions to tackle gun violence in the United States.
What Happened: SOn Thursday, six initial actions were put in place by the Biden-Harris administration. The president is also calling on Congress to pass legislation to close loopholes in the background check system and push further gun violence regulation.
“Gun violence in this country is an epidemic and it is an international embarrassment,” Biden said in a speech.
Plans call for the Justice Department to issue proposed rules on ghost guns, push against stabilizing braces that turn pistols into short-barreled rifles, pass red flag laws that allow family members to petition court from barring people in crisis from accessing firearms and annual reports to be issued.
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