LyondellBasell Prices Public Offering of Guaranteed Notes

Posted on October 6, 2020Comments Off on LyondellBasell Prices Public Offering of Guaranteed Notes

HOUSTON, TEXAS and LONDON (STL.News) LyondellBasell Industries N.V. (NYSE: LYB) (“LyondellBasell” or “we”) announced today that LYB International Finance III, LLC (“LYB International Finance”), its wholly-owned subsidiary, priced a public offering (the “Offering”) of $650,000,000 aggregate principal amount of Guaranteed Floating Rate Notes due 2023 (the “Floating Rate Notes”), $500,000,000 aggregate principal amount of 1.250% Guaranteed Notes due 2025 (the “2025 Notes”), $500,000,000 aggregate principal amount of 2.250% Guaranteed Notes due 2030 (the “2030 Notes”), $750,000,000 aggregate principal amount of 3.375% Guaranteed Notes due 2040 (the “2040 Notes”), $1,000,000,000 aggregate principal amount of 3.625% Guaranteed Notes due 2051 (the “2051 Notes”), and $500,000,000 aggregate principal amount of 3.800% Guaranteed Notes due 2060 (the “2060 Notes” and, together with the Floating Rate Notes, 2025 Notes, 2030 Notes, 2040 Notes, and 2051 Notes, the “Notes”).  The Notes will be fully and unconditionally guaranteed by LyondellBasell.  The Offering is expected to close on October 8, 2020, subject to the satisfaction of customary closing conditions.  The net proceeds of the Offering are expected to be used to fund a portion of the purchase price for the recently announced 50/50 joint venture with Sasol Chemicals (USA) LLC (the “Louisiana Joint Venture”), repay a portion of the indebtedness outstanding under our Term Loan due 2022, redeem or repay up to $1 billion aggregate principal amount of our 6.0% Senior Notes due 2021, and redeem or repay up to €750 million aggregate principal amount of our 1.875% Guaranteed Notes due 2022.  If the Louisiana Joint Venture is not completed on or prior to March 31, 2021, or is terminated on or prior to completion, LyondellBasell and LYB International Finance will be required to redeem all of the outstanding 2025 Notes, 2030 Notes and 2060 Notes at a redemption price equal to 101% of the aggregate principal amount of the 2025 Notes, 2030 Notes and 2060 Notes, respectively, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.

J.P. Morgan Securities LLC, Barclays Capital Inc., BofA Securities, Inc. and Credit Suisse Securities (USA) LLC are acting as the joint book-running managers for the Offering.

The Offering is being made pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission (the “SEC”).  Copies of the prospectus supplement, when available, and the accompanying base prospectus relating to the Offering may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov.  Alternatively, copies of the prospectus supplement, when available, and the accompanying base prospectus may be obtained by calling J.P. Morgan collect at 1-212-834-4533, Barclays Capital Inc. at 1-888-603-5847, BofA Securities toll-free at 1-800-294-1322 or dg.prospectus_requests@bofa.com or Credit Suisse Securities (USA) LLC at 1-800-221-1037.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any offer, solicitation or sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.  Any offering of securities will be made only by means of a prospectus supplement, which will be filed with the SEC.  This press release does not constitute a redemption or repayment notice with respect to the Senior Notes due 2021 or the Guaranteed Notes due 2022.

CLICK to VIEW SOURCE

Source link

Comments Off on LyondellBasell Prices Public Offering of Guaranteed Notes