INEOS announces borrowing of additional term loans
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INEOS announces borrowing of additional term loans

The net proceeds of the Financing will be used to (i) refinance a portion of existing secured debt up to €640,000,000

  • By ICN Bureau | January 24, 2024

INEOS Holdings Limited announced that its indirect wholly owned finance subsidiaries, INEOS Finance and INEOS US Finance, intend to borrow, under the existing Senior Secured Term Loan Agreement, additional term loans in an aggregate principal amount of, when taken together with other senior secured debt to be incurred by INEOS Finance plc, approximately €2,000,000,000 (equivalent) in a combination of euro and U.S. dollars (Financing).

The net proceeds of the Financing will be used to (i) refinance a portion of existing secured debt up to €640,000,000, (ii) to pay the purchase price of US$700 million for the acquisition of LyondellBasell’s ethylene oxide and derivatives business and the aggregate purchase price of €400 million for an INEOS affiliate’s and TotalEnergies’ cracker and derivative assets in Lavéra, France, (iii) for general corporate purposes, including to prefund Project ONE (being the INEOS Group’s major capital investment in Antwerp, Belgium, which was announced on January 14, 2019) and (iv) to pay transaction fees and expenses.

There can be no assurance that the Financing will be completed.


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