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Westlake Chemical offers optional redemption for certain senior notes

Westlake Chemical Corp. is offering optional redemption of some of its own and unit Axiall Corporation's senior notes due 2023.

Westlake's and Axiall's outstanding 4.875% senior notes, with an aggregate principal amount of $433.8 million and $16.2 million, respectively, will be redeemable May 15 at a redemption price of 102.438% of the principal plus accrued and unpaid interest on the notes to the redemption date.

Westlake will use cash on hand to fund the redemption and will borrow under its revolving credit facility if necessary.