NOVA Chemicals Corporation Announces Pricing of Private Offering of $2.1 B Million of Senior Notes
(Thomson Reuters ONE) -
NOVA Chemicals Corporation, 1000 Seventh Avenue S.W., Calgary, Alberta, Canada
T2P 5L5
www.novachemicals.com | 403.750.3600 tel | 403.269.7410 fax
Calgary, Alberta (May 25, 2017) - NOVA Chemicals Corporation (the "Company")
announced today the pricing of the previously announced private offering of
$1,050 million of senior notes due 2024 (the "2024 notes") and $1,050 million of
senior notes due 2027 (the "2027 notes" and, together with the 2024 notes, the
"senior notes"). The 2024 notes will have an interest rate of 4.875% per annum
and the 2027 notes will have an interest rate of 5.250% per annum. The senior
notes are being issued at a price of 100% of their face value. The closing of
the offering of the senior notes is expected to occur on June 9, 2017, subject
to customary closing conditions. The Company plans to use the net proceeds of
the offering and cash on hand to fund its previously announced acquisition of
Williams Partners L.P.'s ("Williams") 88.46% interest in the Geismar, Louisiana
olefins plant, approximately 525 acres of undeveloped land adjacent to the
plant, and Williams' interest in the Ethylene Trading Hub in Mt. Belvieu, Texas,
and to pay fees and expenses related to the transaction and this offering.
Barclays Capital Inc. and HSBC Securities (USA) Inc. acted as joint active
bookrunners and TD Securities (USA) LLC, RBC Capital Markets, LLC and Scotia
Capital (USA) Inc. acted as joint bookrunners.
The senior notes will be issued in reliance on the exemption from the
registration requirements provided by Rule 144A and Regulation S of the United
States Securities Act of 1933, as amended (the "Securities Act"). None of the
senior notes have been registered under the Securities Act or the laws of any
state or other jurisdiction and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state securities laws.
This news release does not constitute an offer to sell or the solicitation of an
offer to buy any security, nor will there be any sale of any security in any
state or other jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any
such state other jurisdiction.
About NOVA Chemicals
NOVA Chemicals develops and manufactures chemicals and plastic resins that make
everyday life safer, healthier and easier. Our employees work to ensure health,
safety, security and environmental stewardship through our commitment to
sustainability and Responsible Care(®). NOVA Chemicals, headquartered in
Calgary, Alberta, Canada, is wholly-owned ultimately by Mubadala Investment
Company of the Emirate of Abu Dhabi, United Arab Emirates.
# # #
For further information please contact:
NOVA Chemicals - Media Inquiries
Mark Horner
Director, Corporate Communications
e-mail: mark.horner(at)novachem.com
NOVA Chemicals - Investor Inquiries
Tracey Simpson
Leader, External Financial Reporting
e-mail: tracey.simpson(at)novachem.com
is a registered trademark of NOVA Brands Ltd.; authorized use.
Responsible Care(®) is a registered trademark of the Chemistry Industry
Association of Canada.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: NOVA Chemicals Corporation via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 25.05.2017 - 21:07 Uhr
Sprache: Deutsch
News-ID 544724
Anzahl Zeichen: 4103
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