LyondellBasell Industries NV subsidiary LYB International Finance II BV priced a public offering of €500 million in 0.875% guaranteed notes due 2026 and another €500 million in 1.625% guaranteed notes due 2031.
The offering is expected to close Sept. 17, subject to customary closing conditions. The notes will be fully guaranteed by LyondellBasell.
Net proceeds of the offering will be used to repay $1 billion in outstanding debt under LyondellBasell's $4 billion three-year term loan facility, as well as a portion of the company's outstanding short-term debt, including commercial paper.
Citigroup Global Markets Ltd. and Deutsche Bank AG, London branch are acting as the joint book-running managers of the offering.
