NOVA Chemicals to delay consideration of bond repurchase

By Jennifer Chiou

New York, Jan. 21 - NOVA Chemicals Corp. said that it does not plan to consider the purchase of any of its $250 million of bonds due April 1, 2009 until the release of its fourth-quarter results for 2008.

The company did, however, say that the purchase of the bonds is attractive at current prices.

NOVA Chemicals said it had about $575 million of available liquidity as of Dec. 31 and also has full access to its credit facilities.

The company plans to provide a liquidity update during its quarterly earnings conference call on Jan. 29.

Pittsburgh-based NOVA Chemicals is a producer of plastics and chemicals.

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