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Westlake Announces Proposed Offering of Senior Notes

WLK
  • Westlake Corporation announced the commencement of an underwritten public offering of senior unsecured notes under its existing shelf registration statement.
  • The timing of pricing and terms for the notes remains subject to market conditions.
  • Westlake intends to use net proceeds from the offering to fund a cash tender offer for its outstanding 3.600% Senior Notes due 2026.
  • Remaining net proceeds are anticipated to fund the pending acquisition of the global compounding solutions businesses of the ACI/Perplastic Group and for general corporate purposes including working capital management.
  • The note offering is not contingent upon the successful completion of the tender offer or the ACI acquisition.
  • The offering is being made only via a prospectus and related prospectus supplement meeting Securities Act of 1933 requirements.
  • BofA Securities, Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC are acting as joint book-running managers.
  • Preliminary prospectus supplements and base prospectuses are available via the SEC EDGAR website or by contacting the joint book-running managers.
  • The press release includes forward-looking statements regarding the offering, use of proceeds, and other matters based on current expectations.