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LyondellBasell to repay term loan and 2021, 2022 notes via new notes
By Marisa Wong
Los Angeles, Oct. 6 – LyondellBasell Industries NV plans to repay a portion of its term loan due 2022, redeem or repay up to $1 billion of its 6% senior notes due 2021 and redeem or repay up to €750 million of its 1.875% guaranteed notes due 2022 using proceeds from an offering of new notes, according to a 424B3 filing with the Securities and Exchange Commission.
Subsidiary LYB International Finance III, LLC plans to price one tranche of floating-rate notes and five tranches of fixed-rate notes, all guaranteed by LyondellBasell Industries.
Proceeds will also be used, together with available cash, to help fund the company’s purchase of a 50% interest from Sasol Chemicals (USA) LLC in a newly formed venture that will own plants and infrastructure located in Louisiana.
LyondellBasell is a chemical company based in London.
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