LyondellBasell to redeem 10 per cent of dollar and euro bonds; wins top safety award

LyondellBasell will redeem $202.5 million of 8 per cent senior secured dollar notes and 33.75 million euro of 8 per cent senior secured euro notes maturing in 2017, representing repayment of 10 per cent each of the outstanding bonds, the company said in a release today.

LyondellBasell also, yesterday, announced that its Bayport Polymers Plant in Pasadena, Texas, would receive the 2010 Distinguished Safety Award from the National Petrochemical & Refiners Association (NPRA). 

This is the highest award given by NPRA and the LyondellBasell plant is the only site to receive the award for the year.  The announcement was made during NPRA's International Petrochemical Conference in San Antonio, Texas.

The award recognises a superior level of personal and process safety performance in the domestic refining and petrochemical manufacturing industries.

The Bayport plant is operated by Equistar Chemicals, LP, a subsidiary of LyondellBasell. The award will be presented May 11 during the NPRA National Safety Conference.

"This is a great honor and we are very proud of the dedication of our Bayport team for their commitment to safe and reliable operations," said CEO Jim Gallogly. "There is nothing more important at LyondellBasell than working safely."