Shearman And Sterling

News May 11, 2021

NOVA Chemical Corporation’s $575 Million Senior Notes Offering

Shearman & Sterling represented HSBC Securities (USA) and the other initial purchasers in connection with NOVA Chemicals Corporation’s offering of $575 million aggregate principal amount of its 4.25% senior notes due 2029. Concurrently with the notes offering, Shearman & Sterling also advised HSBC Securities (USA) in NOVA Chemicals Corporation’s tender offer and consent solicitation for any and all of its outstanding $500 million aggregate principal amount of 5.25% senior notes due 2023.

NOVA Chemicals Corporation, a wholly owned subsidiary of Mubadala Investment Company PJSC of the Emirate of Abu Dhabi, United Arab Emirates, produces and sells ethylene, polyethylene (“PE”) and co-products. Its PE resins are found in a wide range of products, from consumer-oriented items such as food and beverage packaging, to industrial materials including storage drums, agricultural tanks and building and construction materials.

The Shearman & Sterling team below was supported by Stella Sun and Austin Grossfeld.

The Team