NOVA Chemicals Corporation Announces Pricing of Private Offering of $575 Million of Senior Notes
www.novachemicals.com | 403.750.3600 tel | 403.269.7410 fax
NOVA Chemicals Corporation (the Company ) announced yesterday the pricing of a private offering of $575 million of senior notes, structured as 8-year non-call 3, due 2029 (the 2029 notes ). The 2029 notes will have an interest rate of 4.250% per annum and are being issued at a price of 100% of their face value. Alongside the 2029 notes offering, the Company announced a tender offer and consent solicitation for its $500 million, 5.250% senior notes due 2023 (the 2023 notes ). The Company plans to use the net proceeds of the 2029 notes offering to redeem the 2023 notes, for general corporate purposes, including prepaying other indebtedness, and to pay fees and expenses related to the offering. The closing of the offering of the 2029 notes is expected to occur on May 11, 2021, subject to customary closing conditions.
NOVA Chemicals Corporation Announces Pricing of Private Offering of $575 Million of Senior Notes
Calgary, Alberta, Canada, April 28, 2021 (GLOBE NEWSWIRE) NOVA Chemicals Corporation, 1000 Seventh Avenue S.W., Calgary, Alberta, Canada T2P 5L5
www.novachemicals.com | 403.750.3600 tel | 403.269.7410 fax
NOVA Chemicals Corporation (the “Company”) announced yesterday the pricing of a private offering of $575 million of senior notes, structured as 8-year non-call 3, due 2029 (the “2029 notes”). The 2029 notes will have an interest rate of 4.250% per annum and are being issued at a price of 100% of their face value. Alongside the 2029 notes offering, the Company announced a tender offer and consent solicitation for its $500 million, 5.250% senior notes due 2023 (the “2023 notes”). The Company plans to use the net proceeds of the 2029 notes offering to redeem the 2023 notes, for general corporate purposes, including prepaying other indebtedness, and to pay fees and expen