LyondellBasell Announces Pricing Terms for its Tender Offers
December 02, 2021 at 02:24 pm EST
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LyondellBasell Industries N.V. announced the pricing terms of its previously announced five separate offers to purchase for cash up to $1.0 billion of the outstanding series of notes listed in the table below (collectively, the "Notes"). The Offers are made upon the terms and subject to the conditions set forth in the Offer to Purchase dated November 17, 2021, relating to the Notes (the "Offer to Purchase"). The "Early Participation Date" was 5:00 p.m. (Eastern time) on December 1, 2021. Withdrawal rights for the Offers expired at 5:00 p.m. (Eastern time) on December 1, 2021. The Offers will each expire at 11:59 p.m. (Eastern time) on December 15, 2021, unless extended or earlier terminated (the "Expiration Date"). As previously announced, all conditions to the Offers were deemed satisfied by LyondellBasell by the Early Participation Date, or timely waived by LyondellBasell. Accordingly, LyondellBasell will settle on December 3, 2021 (the "Early Settlement Date") all Notes validly tendered at or prior to the Early Participation Date and accepted for purchase by LyondellBasell. Because the aggregate principal amount of Notes validly tendered at or prior to the Early Participation Date exceeded the Waterfall Cap and the Waterfall SubCap, there will be no Final Settlement Date, and no Notes tendered after the Early Participation Date will be accepted for purchase. Notes tendered and not purchased on the Early Settlement Date will be returned promptly after the Early Settlement Date. On December 3, 2021, holders of Notes (each, a "Holder" and, collectively, the "Holders") validly tendered at or prior to the Early Participation Date that were accepted for purchase by LyondellBasell will receive the applicable Total Consideration, in cash (which includes an early participation payment of $30 per $1,000 principal amount of Notes), and an additional cash payment equal to the accrued and unpaid interest on such Notes from and including the immediately preceding interest payment date for such Notes to, but excluding, the Early Settlement Date (the "Accrued Coupon Payment").
LyondellBasell Industries N.V. is one of the world's largest chemical groups. Net sales break down by activity as follows:
- production of olefins and polyolefin (50.2%): ethylene, propylene, butadiene, polypropylene components, etc.;
- manufacturing of intermediate chemical products (21.6%): propylene oxide, acetyl, ethanol, ethylene oxide, etc.;
- refining of highly sulfide crude oil (15.6%): activity ensured in the Gulf Coast region of the United States. The group also produces oxy-fuel;
- manufacturing of advanced polymer solutions (11.1%): polypropylene compounds, engineering plastics, composite materials, advanced polymers, etc. ;
- development of chemical and polyolefin process technologies (1.5%). The group also manufactures polyolefin catalysts.
At the end of 2021, the group had 34 production sites worldwide.
Net sales break down geographically as follows: the Netherlands (3%), the United States (48.8%), Germany (7.4%), China (5%), Italy (4%), Mexico (3.4%), Japan (3.1%), France (3%), Poland (2.5%) and other (19.8%).
LYONDELLBASELL INDUSTRIES N.V. 
