Series of Outstanding | Aggregate Principal | Principal Amount | Percentage of Outstanding | ||||||
Notes to be Exchanged | Amount Outstanding | Tendered for Exchange | Notes Exchanged | ||||||
4.625% Senior Notes due 2021 | $624,793,000 | $624,616,000 | 99.9717% | ||||||
4.875% Senior Notes due 2023 | $433,793,000 | $433,793,000 | 100.000% | ||||||
3.600% Senior Notes due 2026 | $750,000,000 | $747,900,000 | 99.7200% | ||||||
5.000% Senior Notes due 2046 | $700,000,000 | $697,480,000 | 99.6400% |
The Exchange Offer commenced on
In connection with the issuance of each series of Outstanding Notes, Westlake entered into a registration rights agreement in which it undertook to offer to exchange the Outstanding Notes for 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 have been registered under the Securities Act, 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 were not exchanged in the Exchange Offer will continue to be subject to the existing restrictions on transfer.
This press release is for informational purposes only and shall not
constitute an offer to buy nor a solicitation of an offer to sell any of
Westlake’s securities. The Exchange Offer was made only pursuant to the
Exchange Offer documents, which have been filed with the
About Westlake
Forward-Looking Statements
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
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Source:
Westlake Chemical Corp.
Media Inquiries:
Ben
Ederington, 1-713-960-9111
or
Investor Inquiries:
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Bender, 1-713-960-9111