Last $34.51 USD
Change Today +0.48 / 1.41%
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As of 8:04 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

owens corning (OC) Key Developments

Owens Corning Declares Fourth-Quarter 2014 Dividend, Payable on January 20, 2015

Owens Corning announced that its Board of Directors has declared a quarterly cash dividend of $0.16 per common share. The dividend will be payable on Jan. 20, 2015 to shareholders of record as of Jan. 5, 2015.

Owens Corning Announces Pricing of Cash Tender Offers for Up to $400 Million Aggregate Purchase Price of Certain of Its Outstanding Notes

Owens Corning announced the determination of the pricing of cash tender offers to purchase its 9.000% Senior Notes due 2019 (the "2019 Notes") and its 6.500% Senior Notes due 2016 for an aggregate purchase price of up to $400,000,000 (the "Maximum Cap"). The terms and conditions of the Tender Offers are described in the Offer to Purchase, dated November 4, 2014 (the "Offer to Purchase"), which sets out a complete description of the terms and conditions of the Tender Offers, as amended by the press release dated November 4, 2014, and the related Letter of Transmittal. Owens Corning will pay holders who validly tender and do not validly withdraw their Outstanding Notes on November 18, 2014. The Total Tender Offer Consideration of $1,229.81 for each $1,000 principal amount of its 2019 Notes accepted for purchase and $1,114.56 for each $1,000 principal amount of its 2016 Notes accepted for purchase, plus, in each case, accrued and unpaid interest up to, but not including, the applicable Settlement Date (as defined below). The applicable Total Tender Offer Consideration for each $1,000 principal amount of Outstanding Notes validly tendered and accepted for purchase was determined in the manner described in the Offer to Purchase, calculated on November 18, 2014. For Outstanding Notes that are validly tendered and not validly withdrawn at or prior to the Early Tender Time and that are accepted for purchase, Owens Corning has the option for settlement to occur on the "Early Settlement Date," which is to be determined at Owens Corning's election and is expected to be November 19, 2014, one business day following the Early Tender Time. The settlement date for Outstanding Notes that are validly tendered after the Early Tender Time but at or prior to the Expiration Time and that are accepted for purchase is expected to be December 4, 2014, one business day following the Expiration Time. The Tender Offers will expire at 12:00 midnight, New York City time, at the end of the day on December 3, 2014, unless extended or earlier terminated with respect to either or both series of Outstanding Notes. Goldman, Sachs & Co., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are acting as dealer managers for the Tender Offers. The tender and information agent for the Tender Offers is D.F. King & Co. Inc.

Owens Corning Presents at Citi Basic Materials Conference 2014, Dec-03-2014 02:45 PM

Owens Corning Presents at Citi Basic Materials Conference 2014, Dec-03-2014 02:45 PM. Venue: Ritz Carlton New York, Battery Park, Two West Street, New York, NY 10004, United States. Speakers: Thierry J. Denis, Director of Investor Relations.

Owens Corning Increases Max Cap for its Cash Tender Offers for Certain Outstanding Senior Notes

Owens Corning reported that it has amended the terms of its previously announced cash tender offers to increase the aggregate purchase price for its 9.000% Senior Notes due 2019 and its 6.500% Senior Notes due 2016 from an aggregate purchase price of $300 million to $400 million. The company announced all other terms of the Tender Offers, as previously announced, remain unchanged.

Owens Corning Announces Executive Appointments

Owens Corning has announced executive leadership appointments and organizational changes to streamline the company's management structure and reduce costs. Effective October 31, 2014, Brian Chambers was named President, Roofing and Asphalt and Julian Francis was named President, Insulation. The Building Materials Group organizational structure will be eliminated and the Company expects that the Roofing and Insulation businesses will be reported as two separate segments in the future. On October 31, 2014, Charles E. Dana resigned from his role as Group President, Building Materials and executive officer of the company. Mr. Dana will transition from his role and leave the company in early 2015.

 

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