New Issue: LyondellBasell prices $1 billion 10-year notes at par to yield 6%

By Paul A. Harris

Portland, Ore., Nov. 4 - LyondellBasell Industries NV priced a $1 billion issue of 10-year senior notes (Ba2/BB+/) at par to yield 6% on Friday, according to market sources.

The yield printed 12.5 basis points inside of price talk that was set in the 6¼% area.

Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Barclays Capital, Citigroup Global Markets, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and UBS Investment Bank were the joint bookrunners for the quick-to-market issue.

Proceeds, together with available cash, will be used to pay a special dividend of up to approximately $2.6 billion.

LyondellBasell Industries is a chemical company based in Rotterdam, the Netherlands.

Issuer:	LyondellBasell Industries NV
Amount:	$1 billion
Maturity:	Nov. 15, 2021
Securities:	Senior notes
Bookrunners:	Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Barclays Capital, Citigroup Global Markets, Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., UBS Investment Bank
Co-managers:	HSBC Securities (USA) Inc., ING Financial Markets LLC, Morgan Stanley & Co. LLC, Scotia Capital (USA) Inc., UniCredit Capital Markets LLC
Coupon:	6%
Price:	Par
Yield:	6%
Spread:	397 bps
Call protection:	Non-callable
Change-of-control put:	101%
Trade date:	Nov. 4
Settlement date:	Nov. 14
Ratings:	Moody's: Ba2
	Standard & Poor's: BB+
Distribution:	Rule 144A and Regulation S with registration rights
Price talk:	6¼% area
Marketing:	Quick to market

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