Press Releases

INEOS Holdings Limited today announced that its indirect wholly owned finance subsidiaries, INEOS Finance plc and INEOS US Finance LLC, 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 (the “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.

Contact

For further information, please contact:

Richard Longden
+41 (0) 799 626 123

Cautionary Statement

This press release is for information purposes only and does not constitute a prospectus or any offer to sell or the solicitation of an offer to buy any security in the United States of America or in any other jurisdiction. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”). No indebtedness incurred in connection with the Financing will be registered under the Securities Act.

This communication is not being distributed by, nor has it been approved for the purposes of section 21 of the Financial Services and Markets Act 2000 (as amended) (“FSMA”) by a person authorized under FSMA. Accordingly, this communication is only directed at persons who: (i) are outside the United Kingdom, (ii) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended, the “Order”), (iii) are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations etc.”) of the Order, and (iv) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of FSMA) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as “Relevant Persons”).  This communication is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this communication relates will be available only to and will be engaged in only with Relevant Persons. Any person who is not a Relevant Person should not take any action based upon this communication and should not rely on it.

This announcement is not a public offering in the Grand Duchy of Luxembourg or an offer of securities to the public in any European Economic Area member state made under Regulation (EU) 2017/1129 (the “Prospectus Regulation”).

Forward Looking Statements

This press release includes “forward-looking statements,” within the meaning of the U.S. securities laws and the laws of certain other jurisdictions, based on our current expectations and projections about future events, including: the cyclical and highly competitive nature of our businesses; our significant debt service obligations, as well as our ability to generate sufficient cash flow to service our debt; risks associated with our capital structure and our other indebtedness; our sales growth across our principal businesses and our strategy for controlling costs, growing margins, increasing manufacturing capacity and production levels, and making capital expenditures; our ability to deleverage through strategic disposals of certain assets and non-core businesses; raw material costs or supply arrangements; our technological and manufacturing assets and our ability to utilize them to further increase sales and the profitability of our businesses; impacts of climate change, including regulatory requirements on greenhouse gas emissions, the costs to purchase emissions allowances and the physical risks to our facilities of severe weather conditions; current or future health, safety and environmental requirements and the related costs of maintaining compliance with, and addressing liabilities under, those requirements; operational hazards, including the risk of accidents that result in injury to persons and environmental contamination; our ability to retain existing customers and obtain new customers; our ability to develop new products and technologies successfully; our ability to successfully integrate acquired businesses with our historical business and realize anticipated synergies and cost savings, including with respect to businesses acquired; currency fluctuations; our ability to attract and retain members of management and key employees; our relationship with our shareholders, affiliates and joint ventures and general economic, social or political conditions. These and other factors could adversely affect the outcome and financial effects of the plans and events described herein.

All statements other than statements of historical facts included in this press release, including, without limitation, statements regarding our future financial position, risks and uncertainties related to our business, strategy, capital expenditures, projected costs and our plans and objectives for future operations, may be deemed to be forward-looking statements. Words such as “believe,” “expect,” “anticipate,” “may,” “assume,” “plan,” “intend,” “will,” “should,” “estimate,” “risk” and similar expressions or the negatives of these expressions are intended to identify forward-looking statements. In addition, from time to time we or our representatives, acting in respect of information provided by us, have made or may make forward-looking statements orally or in writing and these forward-looking statements may be included in but are not limited to press releases (including on our website), reports to our security holders and other communications.

 

Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Any forward-looking statement speaks only as of the date on which it is made and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. New risk factors emerge from time to time and it is not possible for us to predict all such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results.

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES OF SECURITIES WOULD BE PROHIBITED BY APPLICABLE LAW.  PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS PRESS RELEASE.