Westlake Announces Pricing of Offering of Senior Notes
Jun. 9, 2020- Westlake Chemical Corporation (NYSE: WLK) (“Westlake”) announced today that it has priced its previously announced underwritten public offering of $300,000,000 aggregate principal amount of senior unsecured notes due 2030 (the “Notes”) under its existing shelf registration statement. The Notes will bear interest at a rate of 3.375% per annum and will mature on June 15, 2030. The sale of the Notes is scheduled to close on June 12, 2020, subject to the satisfaction of customary closing conditions. Westlake intends to use a portion of the net proceeds from the proposed public offering of the Notes to fund the purchase in lieu of redemption later this year of three series of tax-exempt revenue bonds (the “Revenue Bonds”) issued by the Louisiana Local Government Environmental Facilities and Community Development Authority (the “Authority”) on behalf of Westlake with an aggregate principal amount of $254,000,000, and, as a result thereof, cancel and retire all $100,000,000 of