LyondellBasell is looking to raise $3.25 billion in exit financing, the Houston-based company said late Thursday. The package will include both junk bonds and a senior term loan facility.
The chemical company plans to issue $2.25 billion in senior secured notes due 2017 and hopes to price the bonds by Mar. 26, according to KDP Investment Advisors. This would leave the term loan facility at $1 billion.