People & Business :: Earnings/Finance
LyondellBasell to Buy Back Debt, Pay Special Dividend
9:23 AM MDT | October 21, 2011 | Vincent Valk
Sitting on a $6 billion cash pile, LyondellBasell has launched a tender offer to buy back about $2.8 billion in debt due 2017 and 2018, and pay a special dividend to shareholders of up to $2.6 billion. The debt, denominated mostly in dollars with a small proportion in euro, of 8% and 11%, respectively. The $2.8 billion tender offer covers about 57% of the 2017 and 2018 debt covered by the offer. The company is also seeking amendments to the terms of the debt that would release collateral securing it and modify other provisions. Debt holders who choose to...
This information is only available to Chemical Week subscribers.
Forgot your user ID or password?
Not an IHS Chemical Week member yet?
Here's why you should be:
100% Satisfaction Guarantee