LyondellBasell sets guidance for 30-year offering; pricing Tuesday

By Aleesia Forni

Virginia Beach, Feb. 25 - LyondellBasell Industries NV is in Tuesday's market with an offering of senior notes (Baa1/BBB/) due 2044, according to a market source and a 424B3 filing with the Securities and Exchange Commission.

Price guidance is set at Treasuries plus 140 basis points to 145 bps.

The offering will be issued through financing subsidiary LYB International Finance BV and guaranteed by LyondellBasell Industries.

Barclays, Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. 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 incorporated in the Netherlands. It was last in the U.S. bond market with $1.5 billion of notes priced in two tranches on July 11.

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