LyondellBasell Completes Debt Refinancing

LyondellBasell has completed a previously announced refinancing of up to $3 billion in debt, with most of the older debt submitted for purchase, the company says. About $2.6 billion in older debt, due in 2017 an d2018 and denominated in U.S. dollars and euros, has been tendered. The refinanced debt carried interest rates of 8% and 11%.   The new debt will be due in 2019 and 2024, and carry interest rates of 5% and 5.75%, respectively. It is being issued in a private placement to institutional investors. As a result of the refinancing, Standard &...

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