INEOS ANNOUNCES REFINANCING OF TERM LOANS
INEOS Holdings Limited (“INEOS”) today announced that its indirect wholly owned finance subsidiaries, INEOS Finance plc and INEOS US Finance LLC, intend to take the following actions under the existing Senior Secured Term Loan Agreement (the “Transactions”):
• prepay a portion of the euro- and dollar-denominated Term Loans due 2022 and 2024 in an aggregate principal amount of approximately €750,000,000 using approximately €250,000,000 expected to be received from INEOS Styrolution Group GmbH, an affiliated company, as a repayment of its approximately €250,000,000 loan owed to INEOS and approximately €500,000,000 from new senior secured debt; and
• refinance all the remaining Term Loans due 2022 and 2024 with new tranches of euro- and dollar-denominated Term Loans due 2024 in approximately the same amount but having lower interest rate margins than the existing tranches.
There can be no assurance that the Transactions or any element thereof will be completed.
For further information, please contact:
Direct tel.: +41 (0) 21 627 7063
Mobile: +41 (0) 799 626 123
This press release is for information purposes only and does not constitute a prospectus or any offer to sell or the solicitation of an offer to buy any security in the United States of America or in any other jurisdiction. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). No indebtedness incurred in connection with the Transactions will be registered under the Securities Act.
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This announcement is not a public offering in the Grand Duchy of Luxembourg or an offer of securities to the public in any European Economic Area member state that has implemented Directive 2003/71/EC, and any amendments thereto (together with any applicable implementing measures in any member state, the “Prospectus Directive”).
Forward Looking Statements
This press release may include “forward looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. These forward looking statements can be identified by the use of forward looking terminology, including the terms ‘‘believes,’’ ‘‘estimates,’’ ‘‘anticipates,’’ ‘‘expects,’’ ‘‘intends,’’ ‘‘may,’’ ‘‘will’’ or ‘‘should’’ or, in each case, their negative, or other variations or comparable terminology. These forward looking statements include all matters that are not historical facts and include statements regarding INEOS’s intentions, beliefs or current expectations concerning, among other things, INEOS’s results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which it operates. By their nature, forward looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward looking statements are not guarantees of future performance and that INEOS’s actual results of operations, financial condition and liquidity, and the development of the industry in which it operates may differ materially from those made in or suggested by the forward looking statements contained in this press release. In addition, even if INEOS’s results of operations, financial condition and liquidity, and the development of the industry in which INEOS operates are consistent with the forward looking statements contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods. Given these risks and uncertainties, you should not rely on forward looking statements as a prediction of actual results.
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