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LyondellBasell announced the early tender results of the previously announced cash tender offer

November 03/2011

(PRNewswire) -- LyondellBasell Industries today announced the early tender results of the previously announced cash tender offer (the "Tender Offer") by its wholly-owned subsidiary, Lyondell Chemical Company (the "Company"), for up to $1,470,134,000 aggregate principal amount of the Company's outstanding 8% Senior Secured Dollar Notes due 2017 (the "Dollar Notes") and 8% Senior Secured Euro Notes due 2017 (the "Euro Notes" and together with the Dollar Notes, the "8% Notes"), and up to $1,318,672,000 aggregate principal amount of the Company's outstanding 11% Senior Secured Dollar Notes due 2018 (the "11% Notes" and together with the 8% Notes, the "Notes") and consent solicitation (the "Consent Solicitation) to amend certain terms of the Notes and the indentures governing the Notes to release certain of the collateral securing the Notes and modify other provisions relating to restrictive covenants.


As the Tender Offer is oversubscribed with respect to each series of Notes, the Company has accepted for purchase tendered Notes on a prorated basis in the manner described in the Statement.  Holders who tender Notes or deliver Consents after the Early Tender/Consent Deadline will not have any of their Notes or Consents accepted for payment.


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