LyondellBasell announces pricing of its $1-bn debt issue

Petrochemicals giant LyondellBasell Industries NV on Tuesday announced a public offer of 4.875 per cent guaranteed notes, maturing in 2044, for an aggregate principal amount of $1 billion.

The issue by LYB International Finance BV, its wholly-owned subsidiary, is fully and unconditionally guaranteed by LyondellBasell Industries. The offer is expected to close on 28 February 2014, subject to customary closing conditions.

The proceeds of the offering are expected to be used for general corporate purposes, including repurchases of LyondellBasell Industries' ordinary shares.

Barclays Capital Inc, Citigroup Global Markets Inc and Deutsche Bank Securities Inc are the active joint book-running managers of the offering, LyondellBasell Industries said in a release.

LyondellBasell is one of the world's largest plastics, chemical and refining companies and a member of the S&P 500.

With manufacturing facilities at more than 55 sites in 18 countries, LyondellBasell products and technologies are used in packaging, electronics, automotive parts, home furnishings, construction materials and biofuels around the world.