Cabot prices $300 million debt issue

ERJ staff report (DS)

Boston, Massachusetts -- Cabot Corp. has priced a public offering of $300 million of 5% senior unsecured notes due 2016. The notes are being sold to the public at 99.322%, resulting in a yield to maturity of 5.1%.

Cabot will pay interest on the notes semi-annually on October 1 and April 1 of each year, beginning on April 1, 2010. The sale of the notes is expected to close on September 24, 2009, subject to customary closing conditions.

Cabot intends to use the net proceeds of the offering to repay borrowings under its revolving credit facility and for general corporate purposes.

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Press release from Cabot