HOUSTON, Nov. 29 /PRNewswire/ -- Lyondell Chemical Company (NYSE: LYO) announced that it intends to issue $350 million of new seven-year, senior secured notes. Proceeds will be used to prepay a portion of the approximately $1 billion of outstanding term loans under Lyondell's credit facility.
The senior secured notes will be offered only to qualified institutional buyers and other eligible purchasers. The notes will not be registered under the Securities Act of 1933 and may not be offered or sold in the Unites States absent registration or an applicable exemption from registration.
The statements in this release relating to matters that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Actual results could differ materially, based on factors including, but not limited to, future global economic conditions, technological developments, availability of capital markets, industry production capacity and operating rates, the supply/demand balance for Lyondell's and its joint ventures' products, competitive products and pricing pressures, further increases in raw material and/or energy costs, changes in governmental regulations and other risk factors. For more detailed information about the factors that could cause actual results to differ materially, please refer to Lyondell's Annual Report on Form 10-K for the year ended December 31, 2000, filed with the Securities and Exchange Commission in March 2001, and Lyondell's Quarterly Report on Form 10-Q for the quarter ended September 30, 2001, filed in November 2001.
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SOURCE Lyondell Chemical Company
Web site: http: //www.lyondell.com
Photo: NewsCom: http: //www.newscom.com/cgi-bin/prnh/20000921/LYOLOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, +1-888-776-6555 or +1-212-782-2840
CONTACT: media, Anne M. Knisely, +1-713-309-2643, or investors, Patrick Quarles, +1-713-309-7141, both of Lyondell Chemical Company
CAPTION: LYOLOGO LYONDELL LOGO Lyondell Logo. (PRNewsFoto)[PM] HOUSTON, TX USA 09/21/2000
