LyondellBasell announces pricing of public pffering of USD1bn guaranteed notes
Feb 22, 2017 (M2 EQUITYBITES via COMTEX) --
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Plastics & chemical company LyondellBasell Industries NV (NYSE:LYB) said on Tuesday that it has priced its public offering of USD1bn aggregate principal amount of 3.500% guaranteed notes due 2027.
This public offering has been initiated by the company's wholly-owned subsidiary, LYB International Finance II BV.
These notes will be fully and unconditionally guaranteed by the company
Proceeds of the offering, together with available cash from our balance sheet, are expected to be used by the company to redeem or repay USD1bn aggregate principal amount of its 5.0% senior notes due 2019.
JP Morgan, BofA Merrill Lynch, Deutsche Bank Securities and HSBC are the active joint book-running managers. The offering is expected to close on 2 March 2017, subject to customary closing conditions.