By David Reed, UT EditorHouston, Texas-Lyondell Chemical Co. has just “called” an additional $200 million of its outstanding debt, specifically the “9.875 percent Senior Secured Notes, Series B, which mature in 2007,” a 14 Dec statement reported. The call price is 104.938 percent of par, and the debt will be paid on 13 Jan, 2005 at the conclusion of the call period, the statement added. The Lyondell statement said that $500 million of its debt has been repaid since resuming its debt-reduction plan in August 2004. The firm’s third-quarter results, issued 28 Oct, showed its debts totalled $3952 million.Lyondell is a leading producer of: propylene oxide (PO); PO derivatives, propylene glycol (PG), butanediol (BDO) and propylene glycol ether (PGE); and styrene monomer and MTBE as co-products of PO production. It also makes and markets TDI (toluene diisocyanate) in Europe and the US.”
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