Key highlights
- INEOS Finance plc issues €800 million in senior secured notes.
- Notes carry a 7.25% interest rate and mature in 2031.
- Funds will partially prefund Project ONE in Antwerp.
- Project ONE expected to start in early 2027.
Offering Details
INEOS Holdings Limited announced that its subsidiary, INEOS Finance plc, has priced an offering of €800 million in senior secured notes. These notes carry an interest rate of 7.25% and are due in 2031.
Use of Proceeds
The proceeds from this offering are intended for general corporate purposes. This includes partially funding Project ONE, a major capital investment in Antwerp, Belgium, and covering transaction fees and expenses.
Project ONE Timeline
Project ONE, announced in January 2019, is expected to commence operations in early 2027. The project represents a significant investment in the region.
Transaction Completion
There is no assurance that the transactions related to this offering will be completed as planned.
