WESTLAKE CORPORATION Stock Price, News & Analysis

Westlake (NYSE: WLK) announced the results of its cash tender offer for its 3.600% Senior Notes due 2026. The offer expired on November 10, 2025 and Westlake intends to accept for purchase $253,730,000 aggregate principal amount of the Notes (excluding Guaranteed Delivery tenders). $10,733,000 in additional Notes are reflected in Notices of Guaranteed Delivery. The Settlement Date is on or about November 12, 2025 and consideration is $996.32 per $1,000 principal, plus accrued interest. Notes delivered under Guaranteed Delivery must be transferred by 5:00 p.m. ET on November 13, 2025, with payment expected on or about November 14, 2025.

Westlake (NYSE: WLK) announced a cash tender offer to purchase any and all of its 3.600% Senior Notes due 2026, with $750,000,000 aggregate principal outstanding. The calculated Consideration is $996.32 per $1,000 principal, using a Reference Yield of 3.741% (4.375% UST due 8/15/2026) and a 35 bps fixed spread, assuming settlement on November 12, 2025. The Offer expires at 5:00 p.m. ET on November 10, 2025 unless extended; guaranteed-delivery tenders are expected to settle on or about November 14, 2025. Accrued interest will be paid in addition to the Consideration. Dealer managers are J.P. Morgan and Wells Fargo; Global Bondholder Services is depositary and information agent.

Westlake Corporation (NYSE: WLK) announced that Westlake Polyethylene’s LDPE Sulphur, Louisiana manufacturing site attained ISCC PLUS certification on November 6, 2025. The certification includes mass balance recognition for tracing and managing alternative raw materials through polymer production.

This milestone supports the company’s stated goal of producing polymers with attributed bio or circular content, improved environmental profiles, and greater transparency in material sourcing across applications such as food packaging, agricultural films, and specialty industrial uses.

Westlake (NYSE: WLK) priced a public offering of $1.2 billion of senior unsecured notes: $600 million due 2035 at 5.550% and $600 million due 2055 at 6.375%. The sale is scheduled to close on November 6, 2025, subject to customary conditions.

Westlake expects to use net proceeds to fund a concurrent cash tender offer to repurchase its 3.600% Senior Notes due 2026, with any remaining proceeds to help fund the pending acquisition of the global compounding solutions businesses of ACI/Perplastic and for general corporate purposes. The offering is being made from an effective shelf registration statement and is not contingent on the Tender Offer or the ACI acquisition.

Westlake (NYSE: WLK) announced on November 4, 2025 the commencement of an underwritten public offering of senior unsecured notes under its existing shelf registration. Proceeds are intended to fund a concurrent cash tender offer to repurchase Westlake's outstanding 3.600% Senior Notes due 2026, to help finance the pending acquisition of the global compounding solutions businesses of the ACI/Perplastic Group, and for general corporate purposes including working capital.

The offering is subject to market conditions, is not contingent on the Tender Offer or the ACI Acquisition, and will be sold only by means of a prospectus and prospectus supplement. Joint book-running managers are BofA Securities, Deutsche Bank Securities, J.P. Morgan Securities and Wells Fargo Securities.

Westlake (NYSE: WLK) commenced a cash tender offer on November 4, 2025 to purchase any and all of its 3.600% Senior Notes due 2026 (aggregate outstanding $750,000,000).

The offer will expire at 5:00 p.m. ET on November 10, 2025, with a Price Determination Date at 2:00 p.m. ET on November 10, 2025 and expected settlement on or about November 12, 2025 (guaranteed-delivery deadlines extend to Nov 13–14, 2025). Consideration per $1,000 will be set by reference to a 4.375% U.S. Treasury maturing 8/15/2026 plus a fixed spread of 35 bps; accrued interest will also be paid.

The offer is intended to extend Westlake’s debt maturity and is conditioned on the successful completion of a concurrent senior notes offering to fund the purchases.

Westlake Chemical Partners (NYSE: WLKP) reported Q3 2025 net income of $14.7 million ($0.42/unit), down from $18.1 million in Q3 2024. MLP distributable cash flow was $14.9 million for the quarter, below prior-year $17.9 million, driven primarily by higher maintenance capital expenditures. The Board declared a quarterly distribution of $0.4714 per unit payable Nov 26, 2025, the 45th consecutive quarterly distribution. OpCo renewed its Ethylene Sales Agreement with Westlake at existing terms (95% of production, $0.10/lb cash margin) through 2027, supporting predictable fee-based cash flows. Trailing twelve-month coverage ratio was 0.75x. Q3 operating cash flow was $105.2 million, up from Q2 2025 $9.1 million due to lower turnaround cash payments.

Westlake Chemical Partners (NYSE: WLKP) announced that Westlake Chemical OpCo and Westlake Corporation renewed the Ethylene Sales Agreement through December 31, 2027, with an initial term to December 31, 2026 and automatic 12-month renewals unless terminated with 12 months' notice.

The renewal secures offtake on attractive terms for 95% of OpCo's ethylene output, preserves the existing pricing formula and sales volume protections, and is cited as supporting the Partnership's distributable cash flow that enabled 45 consecutive quarterly distributions since its 2014 IPO. Related amendments align the Services and Secondment Agreement term to the ethylene agreement and set the Omnibus Agreement to terminate upon termination of the Ethylene Sales Agreement, with indemnity procedural updates for environmental and tax matters.