LyondellBasell to price $1 billion of notes in 20, 40-year tranches

By Aleesia Forni

Virginia Beach, Feb. 26 – LyondellBasell Industries NV is in Thursday’s market with an offering of senior notes (Baa1/BBB/) in tranches due 2035 and 2045, according to a market source and a 424B3 filing with the Securities and Exchange Commission.

Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., 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 incorporated in the Netherlands.

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