Lyondell to Repay a Second $100 Million of Outstanding Debt
21 September 2004 - 1:50AM
PR Newswire (US)
Lyondell to Repay a Second $100 Million of Outstanding Debt
HOUSTON, Sept. 20 /PRNewswire-FirstCall/ -- Lyondell Chemical
Company (NYSE:LYO) today called an additional $100 million of its
9.875 percent Senior Secured Notes, Series B, which mature in 2007.
The call price is 104.938 percent of par, and the debt will be paid
down on October 20, 2004 at the conclusion of the call period.
Lyondell has now called a total of $200 million of its debt since
resuming its debt reduction plan in August 2004. ABOUT LYONDELL
Lyondell Chemical Company, (http://www.lyondell.com/ ),
headquartered in Houston, Texas, is a leading producer of:
propylene oxide (PO); PO derivatives, propylene glycol (PG),
butanediol (BDO) and propylene glycol ether (PGE); and styrene
monomer and MTBE as co-products of PO production. Through its 70.5%
interest in Equistar Chemicals, LP, Lyondell also is one of the
largest producers of ethylene, propylene and polyethylene in North
America and a leading producer of ethylene oxide, ethylene glycol,
high value-added specialty polymers and polymeric powder. Through
its 58.75% interest in LYONDELL-CITGO Refining LP, Lyondell is one
of the largest refiners in the United States processing extra heavy
Venezuelan crude oil to produce gasoline, low sulfur diesel and jet
fuel. FORWARD-LOOKING STATEMENTS The statements in this release
relating to matters that are not historical facts are
forward-looking statements that are subject to risks and
uncertainties. Actual results could differ materially, based on
factors including, but not limited to: the cyclical nature of the
chemical and refining industries; availability, cost and volatility
of raw materials and utilities; governmental regulatory actions and
political unrest; global economic conditions; industry production
capacity and operating rates; the supply/demand balance for
Lyondell's and its joint ventures' products; competitive products
and pricing pressures; access to capital markets; technological
developments and other risk factors. For more detailed information
about the factors that could cause actual results to differ
materially, please refer to Lyondell's Annual Report on Form 10-K
for the year ended December 31, 2003, which was filed in March
2004, and Lyondell's Quarterly Report on Form 10-Q for the quarter
ended June 30, 2004, which was filed August 6, 2004. DATASOURCE:
Lyondell Chemical Company CONTACT: investors, Doug Pike,
+1-713-309-7141, or media, Susan Moore, +1-713-652-4645, both of
Lyondell Chemical Company Web site: http://www.lyondell.com/
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