Davis Polk advised J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC as joint book-running managers on an SEC-registered offering by LYB International Finance B.V., a wholly owned subsidiary of LyondellBasell Industries N.V., of $750 million aggregate principal amount of 4% guaranteed notes due 2023 and $750 million aggregate principal amount of 5.25% guaranteed notes due 2043. The notes are fully and unconditionally guaranteed by LyondellBasell Industries N.V.
LyondellBasell is one of the world’s largest independent chemical companies based on revenues and an industry leader in many of its product lines. LyondellBasell is a top worldwide producer of propylene oxide, polyethylene, ethylene and propylene and the world’s largest producer of polypropylene and polypropylene compounds. Additionally, LyondellBasell is a leading provider of technology licenses and a supplier of catalysts for polyolefin production.
The Davis Polk capital markets team included partner Michael Kaplan, associates Christopher R. Bornhorst, Roshni S. Banker, Christopher M. Bezeg and law clerk Kate Darracott. The tax team included partner Michael Farber and associates David Wilson and Craig A. Phillips. Counsel Betty Moy Huber and associate Amy E. Turner provided environmental advice. Karla A. Rivera Fortis was the legal assistant on the transaction. Members of the Davis Polk team are based in the New York and London offices.
