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Markets :: Basic Chemicals :: Inorganic Chemicals :: Chlor-alkali

Westlake Issues $100 Million in Bonds

8:32 AM MDT | July 6, 2010 | Lindsey Bewley

Westlake Chemical says it has raised $100 million in new revenue bonds due August 1, 2029 with an interest rate of 6.5%/year. The bonds were issued by the Louisiana Local Government Environmental Facilities and Community Development Authority (LCDA; Baton Rouge, LA). The bonds will help fund capital expansions, including a $300 million chlor-alkali expansion at its Geismar, LA vinyls complex; easing a capacity bottleneck; and maintaining its Lake Charles, LA plant. “We are pleased to have completed this transaction which increases our financial flexibility...

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