Notable News to Watch: Olin Corporation (OLN)

  Olin Corporation (OLN) stock observed trading -35.03% off 52-week high price. On the other end, the stock has been noted 16.34% away from low price over the last 52-weeks. The stock disclosed a move of -3.08% away from 50 day moving average and -8.05% away from 200 day moving average. Moving closer, we can see that shares have been trading -3.64% off 20-day moving average. It has market cap of $3402.49M and dividend yield of 3.85%.

Olin Corporation (NYSE: OLN) reported that it intends to commence an offering of $750 million aggregate principal amount of Senior Notes due 2029 (the “Senior Notes”), subject to market and other conditions. The Senior Notes will be sold pursuant to Olin’s shelf registration statement and the base prospectus on file with the Securities and Exchange Commission (“SEC”). The underwriters for the transaction are J.P. Morgan Securities LLC, BofA Merrill Lynch, Citigroup Global Markets Inc., ING Financial Markets, MUFG Securities Americas Inc., PNC Capital Markets LLC, SMBC Nikko Securities America, Inc., TD Securities (USA) LLC and Wells Fargo Securities, LLC. Olin expects to use the net proceeds of the offering to prepay all of the term loans outstanding under its senior term loan credit facility and all of the loans outstanding under its receivables financing credit facility, and Olin expects to use the remaining net proceeds to pay fees and expenses and fund general corporate purposes.

 The USA based company Olin Corporation moved with change of -0.48% to $20.79 with the total traded volume of 2494485 shares in recent session versus to an average volume of 2372.24K. The stock was observed in the 5 days activity at -1.14%. The one month performance of stock was -6.48%. OLN’s shares are at -14.09% for the quarter and driving a -30.65% return over the course of the past year and is now at 3.38% since this point in 2018.  Right now the stock beta is 1.53. The average volatility for the week and month was at 3.09% and 3.19% respectively. There are 163.66M shares outstanding and 162.23M shares are floated in market.

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