-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PBwftlmbx/KWH/req0Nq+oKBXVdFaY+rCKiSjKbvTOXpM+yEeB1kOKlqMNJFhRc9 j6Vw7bSOfVM/TrD1uJtnRA== 0000899243-99-001533.txt : 19990716 0000899243-99-001533.hdr.sgml : 19990716 ACCESSION NUMBER: 0000899243-99-001533 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990630 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19990715 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STERLING CHEMICALS HOLDINGS INC /TX/ CENTRAL INDEX KEY: 0000795662 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL ORGANIC CHEMICALS [2860] IRS NUMBER: 760185186 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-10059 FILM NUMBER: 99665237 BUSINESS ADDRESS: STREET 1: 1200 SMITH ST, SUITE 1900 CITY: HOUSTON STATE: TX ZIP: 77002-4312 BUSINESS PHONE: 7136503700 MAIL ADDRESS: STREET 1: 1200 SMITH ST SUITE 1900 CITY: HOUSTON STATE: TX ZIP: 77002-4312 FORMER COMPANY: FORMER CONFORMED NAME: STERLING CHEMICALS INC /TX/ DATE OF NAME CHANGE: 19961218 FORMER COMPANY: FORMER CONFORMED NAME: STERLING CHEMICALS HOLDINGS INC DATE OF NAME CHANGE: 19960828 FORMER COMPANY: FORMER CONFORMED NAME: STERLING CHEMICALS INC DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STERLING CHEMICAL INC CENTRAL INDEX KEY: 0001014669 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL ORGANIC CHEMICALS [2860] IRS NUMBER: 760502785 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-04343-01 FILM NUMBER: 99665238 BUSINESS ADDRESS: STREET 1: 1200 SMITH STREET STREET 2: SUITE 1900 CITY: HOUSTON STATE: TX ZIP: 77002-4312 BUSINESS PHONE: 7136503700 MAIL ADDRESS: STREET 1: C/O STERLING GROUP INC STREET 2: EIGHT GREENWAY PLAZA, SUITE 702 CITY: HOUSTON STATE: TX ZIP: 77046 FORMER COMPANY: FORMER CONFORMED NAME: STX CHEMICALS CORP DATE OF NAME CHANGE: 19960516 8-K 1 FORM 8-K ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 --------------------------- FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 30, 1999 STERLING CHEMICALS HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 1-00059 76-0185186 (State or other (Commission File Number) (I.R.S Employer jurisdiction of Identification No.) incorporation or organization) 1200 Smith Street, Suite 1900 Houston, Texas 77002-4312 (Address of principal executive offices and zip code) (713) 650-3700 (Registrant's telephone number, including area code) --------------------------- STERLING CHEMICALS, INC. (Exact name of registrant as specified in its charter) Delaware 333-04343-01 76-0502785 (State or other (Commission File Number) (I.R.S Employer jurisdiction of Identification No.) incorporation or organization) 1200 Smith Street, Suite 1900 Houston, Texas 77002-4312 (Address of principal executive offices and zip code) (713) 650-3700 (Registrant's telephone number, including area code) ================================================================================ ITEM 5. OTHER EVENTS The press release issued by Sterling Chemicals Holdings, Inc. on June 30, 1999 is filed as Exhibit 99.1 to this Current Report on Form 8-K, and the contents of such Exhibit are incorporated herein by reference. ITEM 7. EXHIBITS The following exhibits are filed as part of this Form 8-K. Exhibit 99.1 -- Press Release dated June 30, 1999. -2- SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized. STERLING CHEMICALS HOLDINGS, INC. STERLING CHEMICALS, INC. Date: July 14, 1999 By: /s/ DAVID G. ELKINS ------------------------------- David G. Elkins Vice President, Secretary and General Counsel EXHIBIT INDEX Exhibit No. Exhibit 99.1 -- Press Release dated June 30, 1999. EX-99.1 2 PRESS RELEASE DATED JUNE 30, 1999 EXHIBIT 99.1 FOR IMMEDIATE RELEASE Contact: Michael Noonan (713) 654-9506 OTC: STXX Investor Hotline: (888) 445-4319 Web Site: www.sterlingchemicals.com STERLING CHEMICALS ANNOUNCES NEW FINANCING Houston, Texas, June 30, 1999 ... Sterling Chemicals Holdings, Inc. announced today its intention to implement a proposed refinancing plan for its wholly owned subsidiary, Sterling Chemicals, Inc. Under the refinancing plan, Sterling Chemicals would issue $295 million of new senior secured notes and establish two new secured revolving credit facilities totaling $155 million. The proceeds of the sale of the new notes and the initial borrowings under the new revolving credit facilities would be used to fully repay and terminate Sterling's existing secured bank term loans and existing secured revolving credit facility, with the remaining borrowing capacity under the new revolving credit facilities to be available for working capital and general corporate purposes. The purpose of the refinancing would be to increase Sterling Chemical's liquidity by eliminating near-term debt amortization and financial covenants associated with the existing bank debt, as well as increasing revolving credit availability. The new senior secured notes will be offered in private placement transactions only to qualified institutional buyers and certain non-U.S. persons. Sterling currently expects to commence the senior secured notes offering during the week of July 5, 1999. The new senior secured notes will not be registered under the Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor will there by any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The refinancing is dependent on market conditions and other factors, and no assurances can be given that the refinancing will be completed. Based in Houston, Texas, Sterling Chemicals Holdings, Inc. is a holding company that, through its operating subsidiaries, manufactures petrochemicals, acrylic fibers, and pulp chemicals and provides large-scale chlorine dioxide generators to the pulp and paper industry. The Company has a petrochemical plant in Texas City, Texas; an acrylic fibers plant near Pensacola, Florida; and pulp chemical plants in five Canadian locations and one U.S. site. This news release includes "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. Although Sterling Chemicals believes that such statements are based on reasonable assumptions, it can give no assurance that its expectations will in fact occur. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the timing and extent of changes in commodity prices and global economic conditions, federal and state regulatory developments, Sterling's high financial leverage, the availability of skilled personnel and operating hazards attendant to the industry, as well as the other risk factors discussed in Sterling's Annual Report on Form 10-K for fiscal 1998. -----END PRIVACY-ENHANCED MESSAGE-----