INEOS Holdings Limited today announced that its indirect wholly owned finance subsidiaries, INEOS Finance plc and INEOS US Finance LLC, intend to borrow, under the existing Senior Secured Term Loan Agreement, additional term loans in an aggregate principal amount of, when taken together with other senior secured debt to be incurred by INEOS Finance plc, approximately €2,000,000,000 (equivalent) in a combination of euro and U.S. dollars (the “Financing”). The net proceeds of the Financing will be used to (i) refinance a portion of existing secured debt up to €640,000,000, (ii) to pay the purchase price of US$700 million for the acquisition of LyondellBasell’s ethylene oxide and derivatives business and the aggregate purchase price of €400 million for an INEOS affiliate’s and TotalEnergies’ cracker and derivative assets in Lavéra, France, (iii) for general corporate purposes, including to prefund Project ONE (being the INEOS Group’s major capital investment in Antwerp, Belgium, which was announced on January 14, 2019) and (iv) to pay transaction fees and expenses.
There can be no assurance that the Financing will be completed.
Contact
For further information, please contact:
Richard Longden
+41 (0) 799 626 123
Cautionary Statement
This press release is for information purposes only and does not constitute a prospectus or any offer to sell or the solicitation of an offer to buy any security in the United States of America or in any other jurisdiction. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). No indebtedness incurred in connection with the Financing will be registered under the Securities Act.
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Forward Looking Statements
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