Ashland Completes $650 Million Rule 144A Offering

Cahill represented Banc of America Securities LLC, Scotia Capital (USA) Inc. and SunTrust Robinson Humphrey, Inc. as initial purchasers in the $650,000,000 Rule 144A Offering by Ashland Inc. of its 9.125% Senior Notes due 2017 (the "Notes"). The Notes were issued at 96.577% of the aggregate principal amount to yield 9.75%. The proceeds, together with borrowings under Ashland's receivables facility, were used to repay the $750,000,000 bridge loan facility entered into by Ashland in connection with its acquisition of Hercules Incorporated in November of 2008.