NOVA Chemicals Corporation Announces Pricing of Private Offering of $2.1 Billion of Senior Notes

Calgary, Alberta (May 25, 2017) – NOVA Chemicals Corporation (the “Company”) announced today the pricing of the previously announced private offering of $1,050 million of senior notes due 2024 (the “2024 notes”) and $1,050 million of senior notes due 2027 (the “2027 notes” and, together with the 2024 notes, the “senior notes”). The 2024 notes will have an interest rate of 4.875% per annum and the 2027 notes will have an interest rate of 5.250% per annum. The senior notes are being issued at a price of 100% of their face value. The closing of the offering of the senior notes is expected to occur on June 9, 2017, subject to customary closing conditions. The Company plans to use the net proceeds of the offering and cash on hand to fund its previously announced acquisition of Williams Partners L.P.’s (“Williams”) 88.46% interest in the Geismar, Louisiana olefins plant, approximately 525 acres of undeveloped land adjacent to the plant, and Williams’ interest in the Ethylene Trading Hub in Mt. Belvieu, Texas, and to pay fees and expenses related to the transaction and this offering.

Barclays Capital Inc. and HSBC Securities (USA) Inc. acted as joint active bookrunners and TD Securities (USA) LLC, RBC Capital Markets, LLC and Scotia Capital (USA) Inc. acted as joint bookrunners.

The senior notes will be issued in reliance on the exemption from the registration requirements provided by Rule 144A and Regulation S of the United States Securities Act of 1933, as amended (the “Securities Act”). None of the senior notes have been registered under the Securities Act or the laws of any state or other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

This news release does not constitute an offer to sell or the solicitation of an offer to buy any security, nor will there be any sale of any security in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state other jurisdiction.


About NOVA Chemicals

NOVA Chemicals develops and manufactures chemicals and plastic resins that make everyday life safer, healthier and easier. Our employees work to ensure health, safety, security and environmental stewardship through our commitment to sustainability and Responsible Care®. NOVA Chemicals, headquartered in Calgary, Alberta, Canada, is wholly-owned ultimately by Mubadala Investment Company of the Emirate of Abu Dhabi, United Arab Emirates.


For further information please contact:
NOVA Chemicals – Media Inquiries
Jennifer Nanz, Director, Corporate Communications

NOVA Chemicals – Investor Inquiries
Tracey Simpson, Leader, External Financial Reporting

The NOVA Chemicals logo is a registered trademark of NOVA Brands Ltd.; authorized use. Responsible Care is a registered trademark of the Chemistry Industry Association of Canada.