LyondellBasell prices public offering of guaranteed notes
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.
LyondellBasell (NYSE: LYB) ha annunciato il prezzo di un'offerta pubblica tramite la sua controllata LYB International Finance III, LLC. L'offerta comprende 500 milioni di dollari in Note Garantite con un tasso di interesse del 6,150%, con scadenza nel 2035. Le note saranno completamente garantite da LyondellBasell e si prevede che l'offerta si concluda il 15 maggio 2025.
I proventi saranno utilizzati per scopi aziendali generali, inclusa la possibile estinzione delle Note Garantite all'1,25% in scadenza nel 2025. BofA Securities e Wells Fargo Securities agiranno come co-manager dell'offerta.
LyondellBasell (NYSE: LYB) anunció el precio de una oferta pública a través de su subsidiaria LYB International Finance III, LLC. La oferta consiste en 500 millones de dólares en Notas Garantizadas con una tasa de interés del 6,150%, con vencimiento en 2035. Las notas estarán totalmente garantizadas por LyondellBasell y se espera que la oferta cierre el 15 de mayo de 2025.
Los ingresos se utilizarán para fines corporativos generales, incluyendo el posible pago anticipado de las Notas Garantizadas al 1.25% que vencen en 2025. BofA Securities y Wells Fargo Securities actuarán como codirectores de la oferta.
LyondellBasell (NYSE: LYB)는 자회사 LYB International Finance III, LLC를 통해 공개채권 발행 가격을 발표했습니다. 이번 발행은 6.150% 이자율의 5억 달러 보증채권로, 만기는 2035년입니다. 이 채권은 LyondellBasell이 전액 보증하며, 발행은 2025년 5월 15일에 마감될 예정입니다.
자금은 일반 기업 목적, 포함하여 2025년 만기 1.25% 보증채권 상환에 사용될 예정입니다. BofA Securities와 Wells Fargo Securities가 공동 주간사로 참여합니다.
LyondellBasell (NYSE : LYB) a annoncé la tarification d'une offre publique via sa filiale LYB International Finance III, LLC. L'offre comprend 500 millions de dollars de billets garantis avec un taux d'intérêt de 6,150%, arrivant à échéance en 2035. Les billets seront entièrement garantis par LyondellBasell, et la clôture de l'offre est prévue pour le 15 mai 2025.
Les fonds seront utilisés à des fins générales d'entreprise, y compris le remboursement potentiel des billets garantis à 1,25% arrivant à échéance en 2025. BofA Securities et Wells Fargo Securities agissent en tant que gestionnaires principaux conjoints de l'offre.
LyondellBasell (NYSE: LYB) gab die Preisfestsetzung einer öffentlichen Emission über seine Tochtergesellschaft LYB International Finance III, LLC bekannt. Das Angebot umfasst 500 Millionen US-Dollar an Garantierten Schuldverschreibungen mit einem Zinssatz von 6,150%, fällig im Jahr 2035. Die Schuldverschreibungen werden vollständig von LyondellBasell garantiert, und der Abschluss der Emission wird für den 15. Mai 2025 erwartet.
Die Erlöse werden für allgemeine Unternehmenszwecke verwendet, einschließlich einer möglichen Rückzahlung der 1,25% Garantierten Schuldverschreibungen mit Fälligkeit 2025. BofA Securities und Wells Fargo Securities fungieren als gemeinsame Konsortialführer der Emission.
- 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
- Higher interest rate of 6.150% compared to existing 1.25% notes being replaced
- Increased debt obligations could impact financial leverage
Insights
LyondellBasell issues $500M in higher-rate, longer-term debt, likely to refinance maturing lower-rate notes - practical liability management in higher interest environment.
LyondellBasell's
The timing here is strategically sound. By securing this financing nearly a year before the existing notes mature, LYB minimizes refinancing risk and avoids potential market volatility closer to the maturity date. This proactive approach to liability management demonstrates prudent financial stewardship, even if it comes with increased interest costs.
The extension of debt maturity by approximately 10 years suggests the company is prioritizing longer-term financial flexibility over interest expense optimization. This trade-off - accepting higher interest payments in exchange for pushing repayment obligations a decade further - is a standard corporate finance strategy when facing maturing debt in an elevated rate environment.
The selection of BofA Securities and Wells Fargo Securities as joint book-running managers indicates mainstream market acceptance of this offering, with no apparent concerns about LYB's creditworthiness despite the higher interest rate. This transaction represents normal balance sheet management rather than signaling any particular expansion or contraction plans for the petrochemical company.
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
The net proceeds of the Offering are expected to be used for general corporate purposes, which may include the repayment of the
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
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