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Westlake Issues Bonds with Louisiana Government

2:33 PM MDT | June 16, 2010 | Vincent Valk

Westlake Chemical is guaranteeing $100 million in new revenue bonds to be issued by the Louisiana Local Government Environmental Facilities and Community Development Authority (LCDA; Baton Rouge, LA), according to reports. The bonds will help fund capital expansions, including a $300 million chlor-alkali expansion and easing a capacity bottleneck. The bonds are unsecured and due in 2029, Moody's says. Ratings agencies Moody's (New York) and Standard and Poor's (S&P; New York) have both raised Westlake's corporate credit ratings, though it remains below...

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