Westlake Chemical to redeem $688 million of 4.625% notes on Feb. 15

By Wendy Van Sickle

Columbus, Ohio, Dec. 18 – Westlake Chemical Corp. called its $624,793,000 of outstanding 4.625% senior notes due 2021 and the $63,207,000 of outstanding 4.625% senior notes due 2021 issued by Eagle Spinco Inc. for redemption on Feb. 15, according to a press release.

The notes will be redeemed at a price of 102.313 plus accrued interest to the redemption date.

Westlake will fund the redemption using cash on hand, including proceeds of its November offering of $500 million of 4.375% notes due 2047 and the November remarketing of $250 million of 3.5% Louisiana Local Government Environmental Facilities and Community Development Authority revenue refunding bonds (Westlake Chemical Corp. Projects), series 2017.

Westlake is a manufacturer and supplier of petrochemicals, polymers and building products and is based in Houston.

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