News Releases

Baker Botts Represents Westlake Chemical Corporation in $500 Million Senior Notes Offering

Deal Description: On November 13, 2017, Westlake Chemical Corporation (NYSE: WLK) ("Westlake") announced that it has priced an underwritten public offering of $500.0 million aggregate principal amount of senior unsecured notes due 2047 (the "Notes") under its existing shelf registration statement. The Notes will bear interest at a rate of 4.375% per annum and will mature on November 15, 2047. The sale of the Notes is scheduled to close on November 28, 2017, subject to customary closing conditions.

Westlake intends to use the net proceeds from the proposed public offering of the Notes, together with the proceeds from borrowings under its revolving credit facility, the planned remarketing of up to $250 million aggregate principal amount of Louisiana Local Government Environmental Facilities and Community Development Authority Revenue Refunding Bonds (Westlake Chemical Corporation Projects), Series 2017 and cash on hand, to redeem $1.138 billion aggregate principal amount of Westlake's and certain wholly owned subsidiaries' 4.625% senior notes due 2021 and 4.875% senior notes due 2023 on or after the call dates of February 15, 2018, and May 15, 2018, respectively.

Baker Botts L.L.P. represented Westlake in the public offering.
Baker Botts Lawyers/Office Involved:
Corporate: Tim Taylor (Partner, Houston); Travis Wofford (Senior Associate, Houston); Sunil Jamal (Associate, Houston)
Tax: Chuck Campbell (Partner, Houston)


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