HOUSTON, TX / ACCESSWIRE / May 18, 2023 / LyondellBasell (NYSE:LYB) announced that LYB International Finance III, LLC ("LYB International Finance"), its wholly-owned subsidiary, priced a public offering (the "Offering") of $500,000,000 aggregate principal amount of 5.625% Guaranteed Notes due 2033 (the "Notes"). The Notes will be fully and unconditionally guaranteed by LyondellBasell. The Offering is expected to close on May 19, 2023, subject to the satisfaction of customary closing conditions.
The Notes are the first green financing instruments pursuant to LyondellBasell's Green Financing Framework published on May 8, 2023. The net proceeds of the Offering are expected to be used to finance or refinance, in whole or in part, new and/or existing Eligible Green Projects as set forth in the preliminary prospectus supplement. Eligible Green Projects may fall in the following categories:
- Circular economy adapted products, production technologies and processes;
- Renewable energy;
- Pollution prevention and control; and
- Energy efficiency.
Pending the full allocation of an amount equivalent to the net proceeds, we may temporarily invest amounts that are not allocated to Eligible Green Projects in cash or cash equivalents or other short-term investments, including marketable securities, or the repayment of debt.
ING Financial Markets LLC and Morgan Stanley & Co. 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 of the Notes 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 the Company 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 ING Financial Markets LLC at +1 646-424-7913 or Morgan Stanley & Co. LLC at 1-866-718-1649.
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 - 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 for LyondellBasell
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, our ability to meet our sustainability goals, including the ability to operate safely, increase production of recycled and renewable-based polymers to meet our targets and forecasts, and reduce our emissions and achieve net zero emissions by the time set in our goals; our ability to procure energy from renewable sources; 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, 2022, which can be found at www.LyondellBasell.com on the Investor Relations page and on the Securities and Exchange Commission's website at www.sec.gov.
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SOURCE: LyondellBasell
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