NOVA Chemicals offers to purchase $400 million 4 7/8% notes due 2024

Chicago, Nov. 8 – NOVA Chemicals Corp. is offering to buy up to $400 million principal amount of the $1.048 billion outstanding 4 7/8% senior notes due 2024 (Cusips: 66977WAQ2, C67111AH4), according to a press release.

The total consideration offered is $996.25 per note, inclusive of a $30 early tender payment for noteholders who tender their notes by the 5 p.m. ET deadline on Nov. 22. The early deadline is also the withdrawal deadline.

The offer expires at 5 p.m. ET on Dec. 8.

Tenders may be prorated.

The tender offer is being made in connection with a concurrent sale of new notes. The tender offer is conditioned on the completion of the new offering and NOVA raising proceeds sufficient to finance the tender offer.

Early settlement is planned for Nov. 28.

Final settlement is expected to be on Dec. 13.

RBC Capital Markets, LLC is the sole dealer manager (212 618-7843, 877 381-2099).

Global Bondholder Services Corp. is the information and tender agent (855 654-2014, 212 430-3774, contact@gbsc-usa.com).

NOVA Chemicals is a manufacturer and developer of chemicals and plastic resins and is based in Calgary, Alta.

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