INEOS’ €1.08 Billion Term Loan Financing

Shearman & Sterling advised the joint global coordinators and bookrunners in the transaction.

INEOS Finance plc and INEOS US Finance LLC executed the financing comprising of a €350 million incremental senior secured facility and a $845 million incremental senior secured facility to their existing cross-border multicurrency credit agreement. The proceeds from the Euro and Dollar loans will be used to redeem senior notes due 2024 and for working capital and other general corporate purposes.

Barclays, J.P. Morgan, Citi and HSBC were joint global coordinators and bookrunners on the transaction. J.P. Morgan was the lead-left on the dollar piece, while Barclays and J.P. Morgan were joint physical bookrunners on the euros. BofA Securities, BNP Paribas, Credit Suisse, Deutsche Bank, Goldman Sachs, ING, Lloyds, NatWest and Santander were mandated lead arrangers.

INEOS is one of the world’s leading petrochemicals manufacturers by revenue. It currently operates 36 individual businesses across the world.

The Shearman & Sterling team included Maura O’Sullivan (Picture), Tomasz Kulawik, Korey Fevzi, Jackson Lam, Katherine Mcalinden, Lavinia Harrington, Alicia Loh, Shawn Dogra, Winfried M. Carli, Andreas Breu, Pierre-Nicolas Ferrand, Benjamin Marché, Paul Balaam, Kartika Pillay, Andrew Mavers and Charlie Gelbon.

Involved fees earner: Paul Balaam – Shearman & Sterling; Andreas Breu – Shearman & Sterling; Winfried Carli – Shearman & Sterling; Shawn Dogra – Shearman & Sterling; Pierre-Nicolas Ferrand – Shearman & Sterling; Korey Fevzi – Shearman & Sterling; Lavinia Harrington – Shearman & Sterling; Tomasz Kulawik – Shearman & Sterling; Jackson Lam – Shearman & Sterling; Alicia Loh – Shearman & Sterling; Benjamin Marché – Shearman & Sterling; Katherine McAlinden – Shearman & Sterling; Maura O’Sullivan – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Barclays Capital ; Citigroup Inc.; HSBC; J.P. Morgan Securities LLC;