HOUSTON - LyondellBasell (NYSE: LYB), a global chemical industry leader, has priced a public offering of $750 million in aggregate principal amount of 5.500% Guaranteed Notes due in 2034. The notes are fully and unconditionally guaranteed by LyondellBasell and are set to be issued by its wholly-owned subsidiary, LYB International Finance III, LLC.
The offering is expected to close on February 28, 2024, subject to customary closing conditions.
The net proceeds from the offering are earmarked for general corporate purposes. This may include the repayment of the company's 5.75% Senior Notes due later in 2024. Citigroup Global Markets Inc. and Mizuho Securities USA LLC are the joint book-running managers for the transaction.
The offering is conducted under an effective shelf registration statement previously filed with the Securities and Exchange Commission (SEC). Relevant documents, including a preliminary prospectus supplement and the accompanying prospectus, are available and can be obtained from the SEC's EDGAR service or directly from the managing banks.
This press release, however, does not serve as an offer to sell or a solicitation of an offer to buy the notes. Sales of the notes will only occur in jurisdictions where it is legal to do so, following registration or qualification under the respective securities laws.
LyondellBasell is known for its role in producing polymers and pioneering polyolefin technologies, offering high-quality, innovative products for a range of applications including sustainable transportation, food safety, clean water, and healthcare. The company emphasizes its commitment to fostering a circular and low carbon economy through advanced technology and strategic investments.
Investors are advised that certain statements in the press release are forward-looking and that actual results could vary based on market conditions and the company's ability to complete the offering and use the proceeds as planned. The company's ability to manage its debt obligations is also a factor.
More detailed information on these risks can be found in the "Risk Factors" section of LyondellBasell's Form 10-K for the year ended December 31, 2023, available on the company's and SEC's websites.
The information for this article is based on a press release statement.
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