We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
LyondellBasell Industries NV | NYSE:LYB | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
1.33 | 1.37% | 98.75 | 98.63 | 97.88 | 98.22 | 1,369,820 | 01:00:00 |
| | |
Per Note
|
| |
Total
|
| ||||||
Public Offering Price(1)
|
| | | | 99.234% | | | | | $ | 744,255,000 | | |
Underwriting discount
|
| | | | 0.650% | | | | | $ | 4,875,000 | | |
Proceeds to us, before expenses(1)
|
| | | | 98.584% | | | | | $ | 739,380,000 | | |
| Citigroup | | |
Mizuho
|
|
| Barclays | | |
BofA Securities
|
| |
Deutsche Bank Securities
|
|
| J.P. Morgan | | |
MUFG
|
| |
Wells Fargo Securities
|
|
|
Academy Securities
|
| |
Goldman Sachs & Co. LLC
|
| |
PNC Capital Markets LLC
|
| | Scotiabank | |
|
SMBC Nikko
|
| |
Standard Chartered Bank
|
| |
TD Securities
|
| |
UniCredit Capital Markets
|
|
| | |
Page
|
| |||
| | | | S-ii | | | |
| | | | S-iii | | | |
| | | | S-v | | | |
| | | | S-1 | | | |
| | | | S-6 | | | |
| | | | S-11 | | | |
| | | | S-12 | | | |
| | | | S-14 | | | |
| | | | S-27 | | | |
| | | | S-36 | | | |
| | | | S-44 | | | |
| | | | S-44 | | |
| | | | | 1 | | | |
| | | | | 3 | | | |
| | | | | 4 | | | |
| | | | | 5 | | | |
| | | | | 5 | | | |
| | | | | 5 | | | |
| | | | | 5 | | | |
| | | | | 6 | | | |
| | | | | 6 | | | |
| | | | | 6 | | | |
| | | | | 10 | | | |
| | | | | 21 | | | |
| | | | | 21 | | | |
| | | | | 22 | | | |
| | | | | 22 | | | |
| | | | | 22 | | | |
| | | | | 22 | | |
| Issuer | | | LYB International Finance III, LLC. | |
|
Parent Guarantor
|
| | LyondellBasell Industries N.V. | |
|
Securities Offered
|
| | We are offering $750,000,000 aggregate principal amount of 5.500% Guaranteed Notes due 2034. | |
| Guarantee | | | The notes will be fully and unconditionally guaranteed by LyondellBasell as to the payment of principal, premium (if any), interest and any other amounts due on the notes. | |
|
Maturity Date
|
| | Unless redeemed prior to maturity as described below, the notes will mature on March 1, 2034. | |
| Interest | | | Interest on the notes will accrue at the rate of 5.500% per year, payable in cash semi-annually on March 1 and September 1 of each year, commencing September 1, 2024. | |
| Ranking | | | The notes and the guarantees will constitute senior unsecured obligations of LYB International Finance III and LyondellBasell, respectively, and will rank equally in right of payment with all other existing and future senior unsecured indebtedness of LYB International Finance III and LyondellBasell, respectively, and will rank senior in right of payment to any future subordinated indebtedness that LYB International Finance III or LyondellBasell incurs, respectively. The notes and the guarantees will be effectively subordinated to any future secured indebtedness of LYB International Finance III and LyondellBasell, respectively, to the extent of the value of the collateral securing such obligation. In addition, the notes and the guarantees will be structurally subordinated to all existing and future liabilities of the subsidiaries of LYB International Finance III and LyondellBasell (other than LYB International Finance III). | |
| | | | As of December 31, 2023, LyondellBasell and its subsidiaries had approximately $11,232 million of indebtedness outstanding, and, on a pro forma basis after giving effect to the offering of the notes and the use of proceeds therefrom as set forth under “Use of Proceeds,” would have had approximately $11,969 million of indebtedness outstanding (in each case, excluding intercompany indebtedness and guarantees of indebtedness of joint ventures). LYB International Finance III has no outstanding secured indebtedness. | |
| | | | As of December 31, 2023, LyondellBasell’s subsidiaries had approximately $9,482 million of indebtedness, including approximately (i) $1,708 million of unsecured indebtedness of LYB International Finance, $1,669 million of unsecured indebtedness of LYB International Finance II, and $5,666 million of unsecured indebtedness of LYB International Finance III; and (ii) approximately | |
| | | | $117 million of secured indebtedness outstanding (in each case, excluding intercompany indebtedness and guarantees of indebtedness of joint ventures), that would rank structurally senior to the notes with respect to the assets of such subsidiaries. | |
| | | | LYB International Finance, LYB International Finance II and LYB International Finance III are finance subsidiaries of LyondellBasell with no significant assets of their own other than their intercompany loans advancing the proceeds of the existing guaranteed notes issued by LYB International Finance, LYB International Finance II and LYB International Finance III, respectively. The existing series of notes of LYB International Finance, LYB International Finance II and LYB International Finance III are each guaranteed by LyondellBasell but not by any of LyondellBasell’s subsidiaries. | |
|
Optional Redemption
|
| | LYB International Finance III may elect to redeem any or all of the notes in whole at any time or in part from time to time, at the redemption prices described under “Description of the Notes — Optional Redemption.” | |
|
Redemption for Changes in Taxes
|
| | LYB International Finance III may elect to redeem this series of notes in whole but not in part, at its option, in the event of certain changes in tax law that would require the guarantor to pay additional amounts in respect of the guarantee of such series of notes (as defined in “Description of the Notes — Additional Amounts” in this prospectus supplement) to holders of such notes in respect of withholding taxes that cannot be avoided by taking reasonable measures available to it, at a price equal to 100% of the principal amount of the notes plus accrued and unpaid interest, if any, to, but excluding, the date of redemption. See “Description of the Notes — Redemption for Changes in Taxes” in this prospectus supplement. | |
|
Additional Amounts
|
| | Subject to certain exceptions and limitations, LyondellBasell will pay such additional amounts (as defined in “Description of the Notes — Additional Amounts” in this prospectus supplement) in respect of the guarantee of the notes as may be necessary so that the aggregate net amount received by each beneficial owner of such notes after all withholding or deductions, if any, will not be less than the amount the beneficial owner would have received in respect of payments under the guarantee of such notes in the absence of such withholding or deduction. See “Description of the Notes — Additional Amounts” in this prospectus supplement. | |
|
Change of Control Offer
|
| | If a change of control triggering event occurs with respect to the notes, except to the extent LYB International Finance III has exercised its right to redeem such notes, holders of notes may require LYB International Finance III to repurchase all or a portion of such holders’ notes at a purchase price equal to 101% of the principal amount thereof, plus accrued interest, if any, to, but excluding, the date of repurchase. See | |
| | | | “Description of the Notes — Change of Control Offer” in this prospectus supplement. | |
|
Certain Covenants
|
| |
LYB International Finance III will issue the notes under a base indenture dated October 10, 2019 entered into with LyondellBasell, the guarantor, and the trustee named therein (including any successor thereto, the “base trustee”), as supplemented by a supplemental indenture dated May 17, 2023 with LyondellBasell, the guarantor, the base trustee and The Bank of New York Mellon Trust Company, N.A., as trustee (the base indenture as so supplemented, the “indenture”). The indenture, among other things, restricts our ability to:
•
create, incur or assume debt secured by liens;
•
enter into certain sale and lease-back transactions; and
•
enter into consolidations, mergers or sales of all or substantially all of our assets.
These covenants are subject to important exceptions and qualifications, which are described in “Description of the Notes — Certain Covenants” in this prospectus supplement.
|
|
|
Use of Proceeds
|
| | We estimate that the net proceeds of this offering will be approximately $737 million (after deducting the underwriting discount and estimated offering expenses). We intend to use the net proceeds from the sale of the notes for general corporate purposes, which may include the repayment of the 5.75% Senior Notes due 2024 issued by LyondellBasell (the “2024 Notes”). We may temporarily invest amounts that are not immediately needed for these purposes in cash or cash equivalents or other short-term investments, including marketable securities. See “Use of Proceeds” in this prospectus supplement. | |
|
Separate Series / Additional Issuances . .
|
| |
The notes will be separate from any other series of debt securities that may be issued from time to time in the future under the indenture.
LYB International Finance III may, without the consent of the holders of the notes, create and issue additional notes ranking identical to the notes described in this prospectus supplement in all respects except for the issue date, the public offering price, the initial interest payment date, if applicable, and the payment of interest accruing prior to the issue date of such additional notes. Any such additional notes, together with the notes offered hereby, will constitute a single series of securities under the indenture relating to the notes.
|
|
|
Governing Law
|
| | State of New York. | |
|
Trustee, Registrar and Paying Agent
|
| | The Bank of New York Mellon Trust Company, N.A. | |
|
Risk Factors
|
| | See “Risk Factors” and other information included or incorporated by reference in this prospectus supplement and the accompanying prospectus for factors you should consider before deciding to invest in the notes. | |
| | |
Year Ended
December 31, |
| |||||||||||||||
(in millions of dollars, except per share data)
|
| |
2023
|
| |
2022
|
| |
2021
|
| |||||||||
Results of operations data: | | | | | | | | | | | | | | | | | | | |
Sales and other operating revenues
|
| | | $ | 41,107 | | | | | $ | 50,451 | | | | | $ | 46,173 | | |
Operating income(a)
|
| | | | 3,053 | | | | | | 5,101 | | | | | | 6,773 | | |
Income from continuing operations(a)
|
| | | | 2,126 | | | | | | 3,894 | | | | | | 5,623 | | |
Earnings per share from continuing operations:
|
| | | | | | | | | | | | | | | | | | |
Basic
|
| | | | 6.50 | | | | | | 11.86 | | | | | | 16.79 | | |
Diluted
|
| | | | 6.48 | | | | | | 11.83 | | | | | | 16.77 | | |
| | |
As of December 31,
|
| |||||||||
(in millions of dollars)
|
| |
2023
|
| |
2022
|
| ||||||
Balance sheet data: | | | | | | | | | | | | | |
Total current assets
|
| | | $ | 13,152 | | | | | $ | 11,845 | | |
Total assets
|
| | | | 37,000 | | | | | | 36,365 | | |
Total current liabilities
|
| | | | 7,150 | | | | | | 6,760 | | |
Total long-term debt(b)
|
| | | | 11,115 | | | | | | 10,972 | | |
Total equity
|
| | | | 12,944 | | | | | | 12,629 | | |
| | |
As of December 31, 2023
|
| |||||||||
| | |
Actual
|
| |
As Adjusted
|
| ||||||
| | |
Millions of dollars
|
| |||||||||
Cash and cash equivalents and restricted cash(1)
|
| | | $ | 3,405 | | | | | $ | 4,142 | | |
Debt, including current maturities: | | | | | | | | | | | | | |
Short-term debt
|
| | | | 117 | | | | | | 117 | | |
$3,250 million Senior Revolving Credit Facility
|
| | | | — | | | | | | — | | |
$900 million U.S. Receivables Facility
|
| | | | — | | | | | | — | | |
Current maturities of long-term debt(2)
|
| | | | 775 | | | | | | 775 | | |
5.500% Guaranteed Notes due 2034 offered hereby(3)
|
| | | | — | | | | | | 737 | | |
1.25% Guaranteed Notes due 2025(4)
|
| | | | 481 | | | | | | 481 | | |
0.875% Guaranteed Notes due 2026(5)
|
| | | | 542 | | | | | | 542 | | |
3.5% Guaranteed Notes due 2027(6)
|
| | | | 585 | | | | | | 585 | | |
8.1% Guaranteed Notes due 2027(7)
|
| | | | 300 | | | | | | 300 | | |
3.375% Guaranteed Notes due 2030(8)
|
| | | | 124 | | | | | | 124 | | |
2.25% Guaranteed Notes due 2030(9)
|
| | | | 474 | | | | | | 474 | | |
1.625% Guaranteed Notes due 2031(10)
|
| | | | 542 | | | | | | 542 | | |
5.625% Guaranteed Notes due 2033(11)
|
| | | | 495 | | | | | | 495 | | |
3.375% Guaranteed Notes due 2040(12)
|
| | | | 742 | | | | | | 742 | | |
5.25% Guaranteed Notes due 2043(13)
|
| | | | 726 | | | | | | 726 | | |
4.875% Guaranteed Notes due 2044(14)
|
| | | | 982 | | | | | | 982 | | |
4.2% Guaranteed Notes due 2049(15)
|
| | | | 976 | | | | | | 976 | | |
4.2% Guaranteed Notes due 2050(16)
|
| | | | 975 | | | | | | 975 | | |
3.625% Guaranteed Notes due 2051(17)
|
| | | | 916 | | | | | | 916 | | |
4.625% Senior Notes due 2055(18)
|
| | | | 975 | | | | | | 975 | | |
3.8% Guaranteed Notes due 2060(19)
|
| | | | 483 | | | | | | 483 | | |
Other long-term debt
|
| | | | 22 | | | | | | 22 | | |
Total debt, including current maturities:
|
| | | | 11,232 | | | | | | 11,969 | | |
Non-controlling interests
|
| | | | 14 | | | | | | 14 | | |
Total LyondellBasell share of shareholders’ equity
|
| | | | 12,930 | | | | | | 12,930 | | |
Total capitalization
|
| | | $ | 24,176 | | | | | $ | 24,913 | | |
Underwriter
|
| |
Principal
Amount of Notes |
| |||
Citigroup Global Markets Inc.
|
| | | $ | 165,000,000 | | |
Mizuho Securities USA LLC
|
| | | | 165,000,000 | | |
Barclays Capital Inc.
|
| | | | 45,000,000 | | |
BofA Securities, Inc.
|
| | | | 45,000,000 | | |
Deutsche Bank Securities Inc.
|
| | | | 45,000,000 | | |
J.P. Morgan Securities LLC
|
| | | | 45,000,000 | | |
MUFG Securities Americas Inc.
|
| | | | 45,000,000 | | |
Wells Fargo Securities, LLC
|
| | | | 45,000,000 | | |
Academy Securities, Inc.
|
| | | | 18,750,000 | | |
Goldman Sachs & Co. LLC
|
| | | | 18,750,000 | | |
PNC Capital Markets LLC
|
| | | | 18,750,000 | | |
Scotia Capital (USA) Inc.
|
| | | | 18,750,000 | | |
SMBC Nikko Securities America, Inc.
|
| | | | 18,750,000 | | |
Standard Chartered Bank
|
| | | | 18,750,000 | | |
TD Securities (USA) LLC
|
| | | | 18,750,000 | | |
UniCredit Capital Markets LLC
|
| | | | 18,750,000 | | |
Total
|
| | | $ | 750,000,000 | | |
| | |
Per Note
|
| |
Total
|
| ||||||
5.500% Guaranteed Notes due 2034
|
| | | | 0.650% | | | | | $ | 4,875,000 | | |
| | | | | 1 | | | |
| | | | | 3 | | | |
| | | | | 4 | | | |
| | | | | 5 | | | |
| | | | | 5 | | | |
| | | | | 5 | | | |
| | | | | 5 | | | |
| | | | | 6 | | | |
| | | | | 6 | | | |
| | | | | 6 | | | |
| | | | | 10 | | | |
| | | | | 21 | | | |
| | | | | 21 | | | |
| | | | | 22 | | | |
| | | | | 22 | | | |
| | | | | 22 | | | |
| | | | | 22 | | |
Exhibit 107
Calculation of Filing Fee Table
424(b)(5)
(Form Type)
LYB International Finance III, LLC
(Exact Name of Registrant as Specified in its Charter)
Table 1: Newly Registered Securities
Security Type |
Security Class Title | Fee Calculation or Carry Forward Rule |
Amount Registered |
Proposed Maximum Offering Price Per Unit |
Maximum Aggregate Offering Price(1) |
Fee Rate | Amount of Registration Fee(2) | |||||||||
Fees to Be Paid | Debt | 5.500% Guaranteed Notes due 2034 | 457(r) | $750,000,000 | 99.234% | $744,255,000 | 0.00014760 | $109,852.04 | ||||||||
Total Offering Amounts | $744,255,000 | — | $109,852.04 | |||||||||||||
Total Fees Previously Paid | — | — | — | |||||||||||||
Total Fee Offsets | — | — | — | |||||||||||||
Net Fee Due | — | — | $109,852.04 |
(1) | Calculated and being paid in accordance with Rule 456(b) and Rule 457(r) under the Securities Act. This “Calculation of Registration Fee” table shall be deemed to update the “Calculation of Registration Fee” table in the registrant’s Registration Statement on Form S-3ASR (File No. 333-261639). |
The prospectus supplement to which this Exhibit is attached is a final prospectus for the related offering. The maximum aggregate offering price is $750,000,000.
1 Year LyondellBasell Industrie... Chart |
1 Month LyondellBasell Industrie... Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions