Lyondell, Equistar Chemicals, Equistar Funding buy back six series of notes

By Devika Patel

Knoxville, Tenn., Feb. 12 - Lyondell Chemical Co. and its subsidiaries Equistar Chemicals, LP and Equistar Funding Corp. redeemed all of the outstanding notes for six series of notes on Feb. 8, according to an 8-K filing with the Securities and Exchange Commission.

Lyondell bought back $2.86 million of its 8% senior notes due 2014, $998,000 of its 8¼% senior notes due 2016 and $40,000 of its 6 7/8% senior notes due 2017.

The 8% and 8¼% notes, bought back with respective premiums of $476,229 and $222,075, were issued on Sept. 20, 2006, and the 6 7/8% notes, bought back with a premium of $6,877, were issued on June 1, 2007.

Equistar bought back $8.16 million of its 10 1/8% senior notes due 2008, $14.71 million of its 8¾% notes due 2009 and $4.35 million of its 10 5/8% senior notes due 2011.

The 10 1/8% notes were issued on Aug. 24, 2001 and were bought back with a premium of $334,600.

The 8¾% notes were issued on Jan. 15, 1999 and were bought back with a premium of $980,925.

The 10 5/8% notes were issued on April 22, 2003 and were bought back with a premium of $231,062.

The Bank of New York was the trustee for all series of notes.

Lyondell is a Houston-based chemical manufacturing company. Equistar manufactures chemicals and polymers.

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