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People & Business :: Companies

LyondellBasell Pays Down Loan; Buys Back Debt

3:44 PM MST | November 18, 2010 | Vincent Valk

LyondellBasell will repay a $500 million term loan and buy back about $277 million worth of outstanding debt, CFO Kent Potter announced at a conference this week. The debt carries an 8% interest rate and is due in 2017, and the buyback covers about 10% of the outstanding bonds.  The term loan has an adjustable interest rate. Both moves are expected to occur before the end of this...

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