Westlake Chemical Commences Registered Exchange Offer
3/27/2017 4:01:32 PM
$624,793,000aggregate principal amount of its outstanding unregistered 4.625% Senior Notes due 2021 (the "Outstanding 2021 Notes") for a like principal amount of its new registered 4.625% Senior Notes due 2021 (the "2021 Exchange Notes"),
$433,793,000aggregate principal amount of its outstanding unregistered 4.875% Senior Notes due 2023 (the "Outstanding 2023 Notes") for a like principal amount of its new registered 4.875% Senior Notes due 2023 (the "2023 Exchange Notes"),
$750,000,000aggregate principal amount of its outstanding unregistered 3.600% Senior Notes due 2026 (the "Outstanding 2026 Notes") for a like principal amount of its new registered 3.600% Senior Notes due 2026 (the "2026 Exchange Notes"),
$700,000,000aggregate principal amount of its outstanding unregistered 5.000% Senior Notes due 2046 (the "Outstanding 2046 Notes") for a like principal amount of its new registered 5.000% Senior Notes due 2046 (the "2046 Exchange Notes").
The four series of Outstanding Notes are collectively referred to as the "Outstanding Notes" and the four series of Exchange Notes are collectively referred to as the "Exchange Notes."
The form and terms of each series of Exchange Notes will be identical in all material respects to the form and terms of the corresponding series of Outstanding Notes, except for the issue date and that the offer and issuance of the Exchange Notes will be registered under the Securities Act of 1933, as amended, and the transfer restrictions and registration rights, and related additional interest provisions, applicable to each series of Outstanding Notes will not apply to the Exchange Notes. Each series of Exchange Notes will represent the same principal amount of debt and interest as the corresponding series of Outstanding Notes. Outstanding Notes that are not exchanged will continue to be subject to the existing restrictions on transfer.
The purpose of the Exchange Offer is to fulfill Westlake's obligations under the applicable registration rights agreement entered into in connection with the issuance of the Outstanding Notes. Westlake will not receive any proceeds from the Exchange Offer.
The Exchange Offer will expire at
The terms of the Exchange Offer are set forth in a prospectus dated
Attention: Corporate Actions
Banks and Brokers call: 1-(212) 430-3774
Toll free: 1-(866) 470-3800
This press release is for informational purposes only and shall not
constitute an offer to exchange nor a solicitation of an offer to
exchange the Outstanding Notes. The Exchange Offer is being made only by
the prospectus dated
This press release contains forward-looking statements within the
meaning of the federal securities laws. These forward-looking statements
include, but are not limited to, statements regarding the Exchange Offer
and statements containing the use of forward-looking words, such as
"may," "will," "could," "would," "should," "project," "believe,"
"anticipate," "expect," "estimate," "continue," "potential," "plan,"
"forecast," "approximate," "intend," "upside," and the like, or the use
of future tense. Statements contained in this press release concerning
the Exchange Offer, together with other statements that are not
historical facts, are forward-looking statements that involve certain
risks and uncertainties. Such forward-looking statements are based upon
management's current expectations and include known and unknown risks,
uncertainties and other factors, many of which Westlake is unable to
predict or control, that may cause Westlake's actual results,
performance or plans to differ materially from any future results,
performance or plans expressed or implied by such forward-looking
statements. These statements involve risks, uncertainties and other
factors detailed from time to time in Westlake's filings with the
Westlake Chemical Corp.
Ben Ederington, 1-713-960-9111
Steve Bender, 1-713-960-9111