LyondellBasell prices public offering of guaranteed notes

Rhea-AI Summary

LyondellBasell (NYSE: LYB) announced the pricing of a public offering through its subsidiary LYB International Finance III, LLC. The offering consists of $500 million in Guaranteed Notes with a 6.150% interest rate, maturing in 2035. The notes will be fully guaranteed by LyondellBasell, with the offering expected to close on May 15, 2025.

The proceeds will be used for general corporate purposes, including potential repayment of the 1.25% Guaranteed Notes due 2025. BofA Securities and Wells Fargo Securities are serving as joint book-running managers for the offering.

Positive

• Successful pricing of $500 million notes offering indicates strong market confidence
• Long-term debt maturity (2035) provides financial flexibility
• Proceeds will help refinance existing debt due in 2025

Negative

• Higher interest rate of 6.150% compared to existing 1.25% notes being replaced
• Increased debt obligations could impact financial leverage

Houston, May 06, 2025 (GLOBE NEWSWIRE) -- LyondellBasell (NYSE: LYB) announced today that LYB International Finance III, LLC, its wholly-owned subsidiary, priced a public offering (the “Offering”) of $500,000,000 aggregate principal amount of 6.150% Guaranteed Notes due 2035 (the “Notes”). The Notes will be fully and unconditionally guaranteed by LyondellBasell. The Offering is expected to close on May 15, 2025, subject to the satisfaction of customary closing conditions.

The net proceeds of the Offering are expected to be used for general corporate purposes, which may include the repayment of the 1.25% Guaranteed Notes due 2025 issued by LYB International Finance III, LLC.

BofA Securities, Inc. and Wells Fargo Securities, LLC 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 (the “SEC”). A preliminary prospectus supplement has been filed, and a prospectus supplement relating to the Offering will be filed, with the SEC, to which this communication relates. Prospective investors should read the preliminary prospectus supplement and the accompanying prospectus included in the registration statement and other documents LyondellBasell has filed with the SEC relating to the Offering, copies of which may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and the accompanying base prospectus may be obtained by calling BofA Securities, Inc. at 1-800-294-1322 or Wells Fargo Securities, LLC at 1-800-645-3751.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any offer, solicitation or sale of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering of securities will be made only by means of a prospectus supplement, which will be filed with the SEC.

About LyondellBasell
We are LyondellBasell (NYSE: LYB) – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world’s largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare.

Forward-Looking Statements
The statements in this release relating to matters that are not historical facts are forward-looking statements. Actual results could differ materially based on factors including, but not limited to, market conditions; our ability to complete the Offering and apply the net proceeds as described; and our ability to comply with debt covenants and to amend, extend, repay, service, and reduce our debt. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the “Risk Factors” section of our Form 10-K for the year ended December 31, 2024, which can be found at www.lyondellbasell.com on the Investors page and on the SEC’s website at www.sec.gov. 

Nick Facchin
LyondellBasell
713-623-3643
nick.facchin@lyondellbasell.com

FAQ

What is the size and interest rate of LyondellBasell's (LYB) new notes offering?

LyondellBasell's new notes offering is $500 million with a 6.150% interest rate, maturing in 2035.

When will LyondellBasell's (LYB) new notes offering close?

The notes offering is expected to close on May 15, 2025, subject to customary closing conditions.

How will LyondellBasell (LYB) use the proceeds from the notes offering?

The proceeds will be used for general corporate purposes, including potential repayment of the 1.25% Guaranteed Notes due 2025.

Who are the managers for LyondellBasell's (LYB) notes offering?

BofA Securities and Wells Fargo Securities are acting as the joint book-running managers for the offering.