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INEOS ANNOUNCES BORROWING OF ADDITIONAL TERM LOANS
LYNDHURST – October 29, 2021
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 approximately €1,080,000,000 (equivalent) (the “TLB Financing”). The net proceeds of the TLB Financing, together with cash on hand, will be used to (i) redeem all of the outstanding 53/8% Senior Notes due 2024 and 5 5/8% Senior Notes due 2024 issued by INEOS Group Holdings S.A. pursuant to an indenture dated April 9, 2016, as amended from time to time or other indebtedness, (ii) pay transaction fees and expenses and (iii) to the extent of any remaining net proceeds, for general corporate purposes.
There can be no assurance that the TLB Financing will be completed.
Contact
For further information, please contact:
Richard Longden
Direct tel.: +41 (0) 21 627 7063
Mobile: +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 TLB Financing will be registered under the Securities Act.
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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.
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