CALGARY, AB, Feb. 5, 2024 /CNW/ - NOVA Chemicals Corporation (the "NOVA Chemicals") announced today the pricing of a private offering of $650 million of senior unsecured notes, structured as 6-year non-call 2.5-years (the "2030 Notes"). The 2030 Notes will have an interest rate of 9% per annum. Alongside the 2030 Notes offering, NOVA Chemicals announced a tender offer and consent solicitation for any and all of the remaining $650 million of its 4.875%, senior notes due 2024 (the "2024 Notes"). NOVA Chemicals plans to use the net proceeds of the 2030 Notes offering to redeem the remaining $650 million of 2024 Notes or other indebtedness, to pay fees and expenses related to the offering, and general corporate purposes. The closing of the offering of the 2030 Notes is expected to occur on February 12, 2024, subject to customary closing conditions.
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