Royal Bank of Canada (RY-N) Quote - Press Release

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CALGARY, AB, Nov. 18, 2024 /CNW/ - NOVA Chemicals Corporation ("NOVA Chemicals") announced today the pricing of a private offering (the "Offering") of $400 million of senior unsecured notes, structured as 7-year non-call 3-years (the "2031 Notes"). The 2031 Notes will have an interest rate of 7.00% per annum. NOVA Chemicals plans to use the net proceeds of the Offering, together with cash on hand, to repay in full its senior secured term loan facility and terminate all commitments thereunder and to pay the fees and expenses relating to the Offering. The closing of the Offering is expected to occur on November 21, 2024, subject to customary closing conditions.

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