LyondellBasell Industries N.V. (LYB) filed a Form 8K - Other Events - with the U.S Securities and Exchange Commission on February 21, 2017.

 

On February 21, 2017, LyondellBasell Industries N.V. (the "Company") and its wholly owned subsidiary, LYB International Finance II B.V. (the "Issuer"), entered into an Underwriting Agreement (the "Underwriting Agreement") with J.P. Morgan Securities LLC, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as representatives of the several underwriters named therein (the "Underwriters"), relating to the underwritten public offering and sale by the Issuer of $1 billion aggregate principal amount of 3.500% Guaranteed Notes due 2027 (the "Notes"). The Notes are fully and unconditionally guaranteed by the Company. The Underwriting Agreement includes the terms and conditions for the issuance and sale of the Notes, indemnification and contribution obligations and other terms and conditions customary in agreements of this type. The Notes will be issued under an indenture dated as of March 2, 2016, between the Company, the Issuer and Deutsche Bank Trust Company Americas, as trustee (the "Indenture"). The terms of the Notes and the guarantee by the Company will be set forth in an officer's certificate of the Issuer delivered pursuant to the Indenture. Closing of the issuance and sale of the Notes is expected to occur on March 2, 2017, subject to customary closing conditions.

The Notes are being offered and sold pursuant to an automatic shelf registration statement the Company filed with the Securities and Exchange Commission that became effective upon filing on February 19, 2016 (Registration No. 333- 209612).

On February 21, 2017, the Company provided notice (the "Notice of Partial Redemption") to Wells Fargo Bank, National Association, as trustee (the "Trustee"), of its intent to redeem $1billion in aggregate principal amount of its outstanding 5.0% Senior Notes due 2019 (the "2019 Notes"), pursuant to the Indenture, dated as of April 9, 2012, as supplemented (the "2012 Indenture"), between the Company and the Trustee. The Company intends to use the net proceeds from the sale of the Notes, together with available cash from its balance sheet, to complete the partial redemption of the 2019 Notes.

The Company will redeem the 2019 Notes on March 24, 2017. The redemption price of the 2019 Notes is equal to the principal amount thereof plus accrued and unpaid interest up to, but excluding, the redemption date, plus an applicable premium in accordance with the 2012 Indenture.

The descriptions above are summaries and are qualified in their entirety by reference to the Underwriting Agreement and the Notice of Partial Redemption, copies of which are filed as an Exhibit to this Form 8-K and are incorporated herein by reference.

 

The full text of this SEC filing can be retrieved at: http://www.sec.gov/Archives/edgar/data/1489393/000119312517054171/d332648d8k.htm

 

Any exhibits and associated documents for this SEC filing can be retrieved at: http://www.sec.gov/Archives/edgar/data/1489393/000119312517054171/0001193125-17-054171-index.htm

 

Public companies must file a Form 8-K, or current report, with the SEC generally within four days of any event that could materially affect a company's financial position or the value of its shares.

 
 

(END) Dow Jones Newswires

February 23, 2017 17:40 ET (22:40 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
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