Davis Polk advised the joint book-running managers on an SEC-registered offering by LYB International Finance III, LLC, a wholly owned subsidiary of LyondellBasell Industries N.V., of $1 billion aggregate principal amount of its 4.200% guaranteed notes due 2049.
The notes are fully and unconditionally guaranteed by LyondellBasell Industries N.V.
LyondellBasell is one of the largest plastics, chemicals and refining companies in the world. Driven by its employees around the globe, LyondellBasell produces materials and products that are key to advancing solutions to modern challenges like enhancing food safety through lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road and ensuring the safe and effective functionality in electronics and appliances. LyondellBasell sells products into more than 100 countries and is the world’s largest producer of polymer compounds and the largest licensor of polyolefin technologies. In 2019, LyondellBasell was named to Fortune magazine’s list of the “World’s Most Admired Companies”.
Latham & Watkins LLP advised LYB International Finance III on the deal.
Mizuho Securities, Wells Fargo Securities, BofA Merrill Lynch, Citigroup, Deutsche Bank Securities, J.P. Morgan and Morgan Stanley acted as joint book-running managers on the deal.
The Davis Polk capital markets team included partner Michael Kaplan (Picture) and associates Pedro J. Bermeo and Young-Min Cho. Partner William A. Curran and associate Shay Moyal provided U.S. tax advice. Counsel Betty Moy Huber and associate Michael Comstock provided environmental advice.
Involved fees earner: Pedro Bermeo – Davis Polk & Wardwell; Young-Min Cho – Davis Polk & Wardwell; Michael Comstock – Davis Polk & Wardwell; William Curran – Davis Polk & Wardwell; Betty Moy Huber – Davis Polk & Wardwell; Michael Kaplan – Davis Polk & Wardwell; Shay Moyal – Davis Polk & Wardwell;
Law Firms: Davis Polk & Wardwell;