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LyondellBasell prices public offering of guaranteed notes

September 12/2019

MOSCOW (MRC) -- LyondellBasell Industries N.V. has announced that LYB International Finance II B.V., its wholly-owned subsidiary, priced a public offering of EUR500 million aggregate principal amount of 0.875% Guaranteed Notes due 2026 and EUR500 million aggregate principal amount of 1.625% Guaranteed Notes due 2031, as per the company's press release.

The Notes will be fully and unconditionally guaranteed by LyondellBasell. The Offering is expected to close on September 17, 2019, subject to the satisfaction of customary closing conditions. The net proceeds of the Offering are expected to be used to repay the USD1,000 million of indebtedness outstanding under LyondellBasell's USD4,000 million three-year term loan facility and a portion of LyondellBasell's outstanding short-term debt, including commercial paper.

Citigroup Global Markets Limited and Deutsche Bank AG, London Branch are acting as the joint book-running managers for the Offering.

The Offering is being made pursuant to an effective shelf registration statement that was previously filed with the Securities and Exchange Commission (SEC).

As MRC informed before, in February 2019, LyondellBasell, the worlds largest licensor of polyolefin technologies,  announced HPCL-Mittal Energy Limited (HMEL) selected LyondellBasells fifth-generation Spheripol polypropylene (PP) process technology for a 500 KT per year plant in Bathinda, India.

Besides, in April 2019, LyondellBasell announced that PetroChina will use the LyondellBasell Hostalen "Advanced Cascade Process" (Hostalen ACP) technology to produce 1,100,000 metric tons per year (m.t./yr) of high-density polyethylene (HDPE) capacity. Licensor selection has been done by China HuanQiu Contracting & Engineering Co., Ltd. (HQC), a wholly owned subsidiary of PetroChina. The low-pressure slurry process technology will be used for a 300,000-m.t./yr HDPE unit to be built in Korla City, Xinjiang Province, a 400,000-m.t./yr plant in Jieyang City, Guangdong Province and a 400,000-m.t./yr plant in Yulin City, Shaanxi Province in the P.R. China.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,255,800 tonnes in the first seven months of 2019, up by 9% year on year. Shipments of all PE grades increased. At the same time, the estimated PP consumption in the Russian market was 796,120 tonnes in January-July 2019, up by 11% year on year. Shipments of PP block copolymer and homopolymer PP increased.

LyondellBasell is one of the largest plastics, chemicals and refining companies in the world. Driven by its 13,000 employees around the globe, LyondellBasell produces materials and products that are key to advancing solutions to modern challenges like enhancing food safety through lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, and improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road. LyondellBasell sells products into approximately 100 countries and is the world's largest licensor of polyolefin technologies.


mrcplast.com
Author:Margaret Volkova
Tags:PP, PE, HDPE, LyondellBasell, India, China, Russia.
Category:General News
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