Davis Polk advised J.P. Morgan Securities LLC as representative of the initial purchasers on a Rule 144A/Regulation S offering by LyondellBasell Industries N.V. of $2 billion aggregate principal amount of 5% senior notes due 2019 and $1 billion aggregate principal amount of 5.75% senior notes due 2024. Both series of notes are guaranteed by certain of LyondellBasell’s wholly owned domestic subsidiaries.

Davis Polk also advised Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Deutsche Bank Securities Inc. as dealer managers in connection with Lyondell Chemical Company’s cash tender offer and consent solicitation for any and all of its 8% senior secured notes due 2017 and its 11% senior secured notes due 2018. 

LyondellBasell is the world’s third-largest independent chemical company based on revenues and an industry leader in many of its product lines. LyondellBasell is a top worldwide producer of olefins, including ethylene and propylene, a top producer of polyolefins, including polyethylene, 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 and associates John K. Doulamis and Russ McCracken (admitted only in State of Massachusetts). The tax team included partner Lucy W. Farr and associate Una Au. Counsel Betty M. Huber and associate Amy E. Turner provided environmental advice. Joshua Sills was the legal assistant on the transaction. All members of the Davis Polk team are based in the New York office.