Westlake Chemical calls $67 million 8¾% notes due 2011

By Angela McDaniels

Seattle, Jan. 13 - Westlake Chemical Corp. said it will redeem the remaining $67 million balance of its $247 million 8¾% senior notes due 2011.

The redemption date is Feb. 13.

The company will pay par plus accrued interest and a make-whole premium.

Westlake called $180 million of the notes on Jan. 9.

The redemptions are part of the company's refinancing plan that includes a new issue of $250 million 6 5/8% senior notes due 2016, the repayment of a $9 million term loan and an amendment increasing the commitment of its revolving credit facility to $300 million from $200 million.

Westlake is a Houston-based manufacturer and supplier of petrochemicals, polymers and fabricated products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.