Lyondell Chemical Company and its subsidiaries Equistar Chemicals, LP ("Equistar") and Equistar Funding Corporation (together with Equistar, the "Equistar Issuers") announced completion of their previously announced cash tender offers (the "Offers") for the outstanding debt securities listed in Table 1 below (collectively, the "Notes") issued by Lyondell or the Equistar Issuers, as applicable.
The Offers for each series of Notes expired at 12:01 a.m. EST on Thursday, Dec. 20, 2007.
Lyondell and the Equistar Issuers have accepted for purchase a majority in aggregate principal amount of each of the Notes listed in Table 1, and each of the supplemental indentures effecting the proposed amendments as described in the Offer to Purchase and Consent Solicitation Statement dated Nov. 20, 2007 (the "Offer and Consent Statement") has become operative.
Table 1 - Notes in Completed Tender Offers:
Lyondell's Notes:
- CUSIP Number - Security Description
- 552078AV9 - 10.500% Senior Secured Notes due 2013
- 552078AW7 - 8.000% Senior Notes due 2014
- 552078AX5 - 8.250% Senior Notes due 2016
- 552078AY3 - 6.875% Senior Notes due 2017
Equistar Issuers' Notes:
- CUSIP Number - Security Description
- 29444NAF9 - 10.125% Senior Notes due 2008
- 29444NAD4 - 8.750% Notes due 2009
- 29444NAH5 - 10.625% Senior Notes due 2011Goldman, Sachs & Co. and Merrill Lynch & Co. served as dealer managers for the Offers. D.F. King Inc, served as the Tender Agent and Information Agent for the Offers.
This announcement is not an offer to purchase, a solicitation for acceptance of an offer to purchase, or a solicitation of consents with respect to, any securities.
The Offers and Consent Solicitations were made solely pursuant to the Offer and Consent Statement and related materials.
Lyondell Chemical Company; Equistar Chemicals, LP
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