Lyondell Extends Notes Exchange Offer

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Oct 13, 2011, 08:32 ET

HOUSTON, Oct. 13, 2011 /PRNewswire/ -- Lyondell Chemical Company, a wholly owned subsidiary of LyondellBasell (NYSE: LYB), today announced that it has extended the primary expiration date for an exchange offer which commenced Sept. 15, 2011 relating to its outstanding dollar-denominated 8% Senior Secured Notes due 2017 and its outstanding euro-denominated 8% Senior Secured Notes due 2017.

The exchange offer, which was initially scheduled to expire at 12 a.m. Eastern Daylight Time on Oct. 13, 2011, has been extended until 12 p.m. Eastern Daylight Time / 5 p.m. British Summer Time on Oct. 17, 2011. Holders of notes previously tendered for the exchange have the right to withdraw tenders of the notes at any time prior to the expiration of the exchange offer. As of Oct. 13, 2011, holders of $1,822,500,000, or 100 percent, of the outstanding principal amount of the dollar notes and holders of euro 303,216,000, or 99.8 percent, of the outstanding principal amount of the euro notes had tendered their notes for exchange.

LyondellBasell (NYSE: LYB) is one of the world's largest plastics, chemical and refining companies. The company manufactures products at 58 sites in 18 countries. LyondellBasell products and technologies are used to make items that improve the quality of life for people around the world including packaging, electronics, automotive parts, home furnishings, construction materials and biofuels. More information about LyondellBasell can be found at www.lyondellbasell.com.

SOURCE LyondellBasell Industries