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LyondellBasell to repay $1 billion term loan with note proceeds
By Wendy Van Sickle
Columbus, Ohio, Sept. 10 – LyondellBasell Industries NV expects to repay the $1 billion of debt outstanding under its $4 billion three-year term loan facility with proceeds of an offering of €1 billion of notes due 2026 and 2031 to be issued by its LYB International Finance II BV subsidiary, according to a press release.
Proceeds may also be used to repay a portion of the company’s short-term debt, including commercial paper.
The subsidiary priced the notes on Tuesday in two equally sized tranches and coupons of 0.875% for the seven-year notes and 1.625% for the 12-year notes.
The Houston-based chemical company has executive offices in London and is incorporated in the Netherlands.
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