Chicago, Oct. 6 – LYB International Finance III, LLC priced a floating-rate tranche of notes and five tranches of fixed-rate notes on Tuesday for a total of $3.9 billion principal amount of new notes, all guaranteed by LyondellBasell Industries NV, according to a press release.
The issue includes $650 million of guaranteed floating-rate notes due 2023.
The fixed-rate tranches include:
• $500 million of 1.25% guaranteed notes due 2025;
• $500 million of 2.25% guaranteed notes due 2030;
• $750 million of 3.375% guaranteed notes due 2040;
• $1 billion of 3.625% guaranteed notes due 2051; and
• $500 million of 3.8% guaranteed notes due 2060.
J.P. Morgan Securities LLC, Barclays, BofA Securities, Inc. and Credit Suisse Securities (USA) LLC are the joint bookrunners.
Proceeds will 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; repay a portion of its term loan due 2022; redeem up to $1 billion of its 6% senior notes due 2021; and redeem up to €750 million of its 1.875% guaranteed notes due 2022.
If the joint venture is not completed, the issuer will be required to redeem the notes at 101 plus interest.
LyondellBasell is a chemical company based in London.
| Issuer: | LYB International Finance III, LLC
|
| Issue: | LyondellBasell Industries NV
|
| Amount: | $3.9 billion
|
| Bookrunners: | J.P. Morgan Securities LLC, Barclays, BofA Securities, Inc. and Credit Suisse Securities (USA) LLC
|
| Pricing date: | Oct. 6
|
|
|
| Floating-rate notes
|
| Amount: | $650 million
|
| Maturity: | 2023
|
| Coupon: | Floating
|
|
|
| 2025 notes
|
| Amount: | $500 million
|
| Maturity: | 2025
|
| Coupon: | 1.25%
|
|
|
| 2030 notes
|
| Amount: | $500 million
|
| Maturity: | 2030
|
| Coupon: | 2.25%
|
|
|
| 2040 notes
|
| Amount: | $750 million
|
| Maturity: | 2040
|
| Coupon: | 3.375%
|
|
|
| 2051 notes
|
| Amount: | $1 billion
|
| Maturity: | 2051
|
| Coupon: | 3.625%
|
|
|
| 2060 notes
|
| Amount: | $500 million
|
| Maturity: | 2060
|
| Coupon: | 3.8%
|
|
|
© 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.
