LyondellBasell Announces Completion of its Offering of $2.0 Billion of 5.000%
Senior Notes Due 2019 and $1.0 Billion of 5.750% Senior Notes Due 2024
ROTTERDAM, Netherlands, April 9, 2012 /PRNewswire via COMTEX/ -- LyondellBasell
Industries N.V. (LYB) today announced that it has completed its offering of $2.0
billion of 5.000% senior notes due 2019 (the "2019 notes") and $1.0 billion of
5.750% senior notes due 2024 (the "2024 notes" and, together with the 2019 notes,
the "notes").
LyondellBasell (the "Company") intends to use the net proceeds from the offering
of the notes, together with cash on hand, to finance the repurchase of any and
all of Lyondell Chemical Company's 8% Senior Secured Notes due 2017 and any and
all of Lyondell Chemical Company's 11% Senior Secured Notes due 2018[1],
including through tender offers, and consent solicitations, and to pay fees and
expenses related to the repurchase. All remaining proceeds from this offering not
used to repurchase the 8% Senior Secured Notes due 2017 and the 11% Senior
Secured Notes due 2018 will be used for general corporate purposes. The notes are
guaranteed on a senior basis by, subject to certain exceptions, each existing and
future wholly owned United States subsidiary of the company that is an issuer or
co-issuer in respect of, or guarantees, any debt securities issued in the capital
markets by the Company or any subsidiary.
The notes were issued in a private placement to qualified institutional buyers in
accordance with Rule 144A under the Securities Act of 1933, as amended (the
"Securities Act") and to certain non-U.S. persons in offshore transactions in
accordance with Regulation S under the Securities Act.
The notes have not been registered under the Securities Act or the securities
laws of any other jurisdiction and may not be offered or sold in the United
States without registration under the Securities Act or an applicable exemption
from registration requirements. This announcement does not constitute an offer to
sell, or the solicitation of an offer to buy, any securities and shall not
constitute an offer, solicitation or sale in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
LyondellBasell (LYB) is one of the world's largest plastics, chemical and
refining companies. The company manufactures products at 58 sites in 18
countries. LyondellBasell products and technologies are used to make items that
improve the quality of life for people around the world including packaging,
electronics, automotive parts, home furnishings, construction materials and
biofuels. More information about LyondellBasell can be found at
lyondellbasell.com.
This press release contains forward-looking statements |
