Home / Knowledge / News / Textiles / Lyondell plans to raise $3,250 mn of first priority debt
Lyondell plans to raise $3,250 mn of first priority debt
13
Mar '10
LyondellBasell announced that its wholly owned subsidiary, Lyondell Chemical Company, plans to raise $3,250 million of first priority debt, including an offering of senior secured notes in a private placement and borrowings under a senior term loan facility.

The net proceeds from the sale of the Notes, together with borrowings under the Term Loan and a new European securitization facility and proceeds from a $2,800 million rights offering,would be used upon emergence from bankruptcy to repay and replace certain existing debt, including debtor-in-possession credit facilities and an existing European securitization facility and to make certain related payments.

The Notes and Term Loan will be senior secured obligations of Lyondell Chemical and will be guaranteed by LyondellBasell Industries N.V. (the new Dutch parent of the LyondellBasell group) and, subject to certain exceptions, substantially all wholly owned U.S. restricted subsidiaries of LyondellBasell Industries N.V.

The Notes and the guarantees of the Notes will not be registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from the registration requirements. The Notes will be offered only to "qualified institutional buyers" in accordance with Rule 144A under the Securities Act and to non-"U.S. persons" in accordance with Regulation S under the Securities Act.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

LyondellBasell Industries is one of the world's largest polymers, petrochemicals and fuels companies.

LyondellBasell Industries

Must ReadView All

Courtesy: UPM Raflatac

Apparel/Garments | On 17th Jan 2017

New residue free textile label adhesive from UPM Raflatac

Producer of self adhesive label materials UPM Raflatac, has...

Courtesy: Authentic Brands Group

Apparel/Garments | On 17th Jan 2017

Teen retailer Aéropostale reopens 500 stores in US

Teen apparel retailer Aéropostale has reopened 500 stores in the US,...

Courtesy: Centric Software

Information Technology | On 17th Jan 2017

Centric releases version 6.0 of PLM solution

Centric Software, the leading PLM solution for fashion, retail,...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search