MOSCOW (MRC) -- INEOS Group Holdings S.A. announced that it has launched an offering (the "Offering") of senior notes due 2024, in an aggregate principal amount of approximately EUR1.1 billion (equivalent) in a combination of euro and U.S. dollars, said the producer on its site.
INEOS intends to use the proceeds from the Offering, together with cash on hand, to refinance all of its outstanding dollar-denominated senior notes due 2018 and euro-denominated senior notes due 2018 and to pay transaction fees and expenses. There can be no assurance that the Offering or the refinancing will be completed.
As MRC informed earlier, INEOS Enterprises confirmed it has reached an agreement in principle, to sell INEOS Styrenics, its Expandable Polystyrene Business (EPS), to Synthos S.A. for EUR80m.
INEOS is a global manufacturer of petrochemicals, speciality chemicals and oil products. It comprises 18 businesses each with a major chemical company heritage. Its production network spans 65 sites in 16 countries throughout the world.
MRC