LyondellBasell partially accepts notes from oversubscribed tender offer

Chicago, Dec. 2 – LyondellBasell Industries NV announced the early tender results of its capped waterfall offers for up to $1 billion of notes from five series, according to a press release.

The company announced it will accept the following amounts from the tendered notes:

• $224,994,000 accepted of the $504,039,000 tendered (with a proration factor of 43.04% applied because of the $225 million series subcap) of the $1 billion outstanding 5.75% senior notes due 2024 (Cusips: 552081AK7, 552081AH4) issued by LyondelBasell to be priced using the 0.75% U.S. Treasury due Nov. 15, 2024 plus 20 basis points;

• All of the $409,183,000 tendered of the $1 billion outstanding 3.5% guaranteed notes due 2027 (Cusip: 50247WAB3) issued by LYB International Finance II BV with pricing based on the 1.125% U.S. Treasury due Oct. 31, 2026 plus 50 bps;

• All of the $357,957,000 tendered of the $500 million outstanding 3.375% guaranteed notes due 2030 (Cusip: 50249AAC7) issued by LYB International Finance III BV with pricing based on the 1.375% U.S. Treasury due Nov. 15, 2031 plus 60 bps;

• $7,866,000 of the $437,376,000 tendered (as the waterfall cap of $1 billion was reached) of the $500 million outstanding 1.25% guaranteed notes due 2025 (Cusip: 50249AAF0) issued by LYB International Finance III with pricing to be based on the 1.125% U.S. Treasury due Oct. 31, 2026 plus 20 bps; and

• None of the $334,275,000 tendered of the $500 million outstanding 2.25% guaranteed notes due 2030 (Cusip: 50249AAG8) issued by LYB International Finance III with pricing to be based on the 1.375% U.S. Treasury due Nov. 15, 2031 plus 65 bps.

All of the tender considerations include a $30 early participation payment for noteholders who tendered by the early deadline, 5 p.m. ET on Dec. 1.

The early deadline was also the withdrawal deadline.

Tender considerations will be determined at 10 a.m. ET on Dec. 2.

Early settlement is expected for Dec. 3.

The expiration date was 11:59 p.m. ET on Dec. 15. However, because the waterfall cap has been exceeded, no notes tendered after the early deadline will be accepted for purchase.

Deutsche Bank Securities Inc. (866 627-0391, 212 250-2955) and Wells Fargo Securities, LLC (866 309-6316, 704 410-4756, LiabilityManagement@wellsfargo.com) are the lead dealer managers.

Morgan Stanley & Co. LLC and MUFG Securities America Inc. are the co-dealer managers.

Global Bondholder Services Corp. (866 470-3800, 212 430-3774, https://www.gbsc-usa.com/LyondellBasell/) is the tender agent and the information agent.

LyondellBasell is a chemical company based in Houston.

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