debt
confidence high
sentiment neutral
materiality 0.85
Westlake Corp launches tender offer for $750M 3.600% Senior Notes due 2026 and new notes offering
WESTLAKE CORP
- Westlake commenced a cash tender offer for any and all of its $750 million aggregate principal 3.600% Senior Notes due 2026.
- The tender offer expires on November 10, 2025, and is conditioned on the successful completion of a concurrent senior notes offering.
- Westlake also announced an underwritten public offering of senior unsecured notes to fund the tender offer and its pending ACI/Perplastic Group acquisition.
- J.P. Morgan Securities and Wells Fargo Securities are dealer managers for the tender offer; BofA, Deutsche Bank, J.P. Morgan, and Wells Fargo are joint book-runners for the notes offering.
- Net proceeds from the notes offering will also be used for general corporate purposes including working capital management.