LyondellBasell to sell notes in 10-, 30-year tranches

By Andrea Heisinger

New York, July 11 - LyondellBasell Industries NV is in Thursday's market with an offering of senior notes (Baa2/BBB/) in two tranches, according to a market source and a 424B3 filing with the Securities and Exchange Commission.

The offering, which will be issued through financing subsidiary LYB International Finance BV and guaranteed by LyondellBasell Industries, is expected to include 10-year and 30-year notes, the source said.

J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are the bookrunners.

The securities will have a make-whole call. There is also a change-of-control put at 101%.

Proceeds will be used for general corporate purposes, including the repurchase of LyondellBasell's ordinary shares.

The Houston-based chemical company has executive offices in London and is incorporate in the Netherlands. It was last in the U.S. bond market when it was junk-rated (Ba2/BB+/). That sale was $3 billion priced in two tranches on March 26, 2012.

© 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.