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Cytec Industries Inc. Announces Final Results of its Any and All Tender Offer for its 5.50% Notes Due October 1, 2010 and Early Tender Date Results of its Maximum Tender Offer for its 4.60% Notes Due July 1, 2013
Wednesday, July 15, 2009 9:28 AM


Cytec Industries Inc. (NYSE:CYT) today announced the final results of its offer to purchase any and all of its 5.50% Notes due October 1, 2010 (the “Any and All Tender Offer”). Cytec also announced the early tender date results of its offer to purchase up to $250,000,000 in aggregate principal amount, less any amount accepted in the Any and All Tender Offer, of its 4.60% Notes due July 1, 2013 (the “Maximum Tender Offer”) with a maximum repurchase amount of $50,000,000 (the “Maximum Tender Amount”).

As of 5:00 p.m., New York City time, on July 14, 2009, the aggregate principal amount of 2010 Notes tendered in the Any and All Tender Offer was $234,590,000. All of the 2010 Notes that were tendered have been accepted for payment by Cytec, with settlement expected to occur today. The holders of the 2010 Notes that were accepted for purchase will be entitled to receive tender offer consideration of $1,035 per $1,000 principal amount of the 2010 Notes, plus any accrued and unpaid interest from and including the last interest payment date up to, but not including, the settlement date.

Cytec received early tenders in respect of $70,039,000 aggregate principal amount of 2013 Notes as of 5:00 p.m. New York City time on July 14, 2009. Holders who have not already tendered the 2013 Notes may continue to do so at any time at or prior to 11:59 p.m. New York City time, on July 28, 2009 (the “Maximum Tender Offer Expiration Date”), unless Cytec extends or earlier terminates the Maximum Tender Offer. However, such holders will not be entitled to receive any early tender premium, except in the case of any 2013 Notes that were tendered prior to 5:00 p.m., New York City time, on July 14, 2009, and which are ultimately accepted for purchase. Withdrawal rights for the tender offers have expired. Based on the final results for the Any and All Tender Offer, the remaining Maximum Tender Amount for the Maximum Tender Offer is $15,410,000. Since the aggregate principal amount of 2013 Notes tendered exceeds the remaining Maximum Tender Amount, any 2013 Notes accepted for purchase will be purchased on a pro rata basis, and notes that are not purchased will be returned to the holders. The proration factor cannot be determined until the Maximum Tender Offer Expiration Date.

The Any and All Tender Offer was made, and the Maximum Tender Offer is being made, pursuant to an Offer to Purchase dated June 30, 2009 (the "Offer to Purchase"), which sets forth a complete description of the terms of the offers.



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