Westlake Chemical calls $450 million 4.875% notes due 2023 at 102.438

By Susanna Moon

Chicago, March 19 – Westlake Chemical Corp. issued redemption notices for its $433,793,000 principal amount of 4.875% senior notes due 2023 and Axiall Corp.’s $16,207,000 principal amount of 4.875 senior notes due 2023.

The notes will be redeemed on May 15 at a price of 102.438% of par plus accrued interest to the redemption date, according to a company notice.

The company said it will use cash on hand and if needed borrowings under its revolving credit facility to fund the redemption price for the 2023 notes.

Westlake is a manufacturer and supplier of petrochemicals, polymers and building products and is based in Houston.

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