Frankfurt am Main – August 4, 2014 – Styrolution Group GmbH ("Styrolution") today announced that the Refinancing Condition (described below) in respect of the conditional notice (the "Notice of Redemption") it issued on July 4, 2014 stating its intention to redeem (subject to the satisfaction or waiver of the Refinancing Condition) all of its outstanding 7.625% Senior Secured Notes due 2016 (the "Notes") will not be satisfied or waived on or prior to August 4, 2014. As a result, the conditional redemption will not take place on August 5, 2014; however, Styrolution currently expects to redeem the Notes on or before September 2, 2014 (subject to the satisfaction or waiver of the Refinancing Condition). Under the Notice of Redemption, Styrolution's obligation to complete the redemption is conditioned upon the completion of one or more financing transactions for the purpose of redeeming the Notes (among other things) by any of (i) Styrolution or (ii) INEOS Styrolution Holding GmbH and/or one or more of its subsidiaries or affiliates and the on-lending of a portion of the proceeds therefrom to Styrolution pursuant to one or more intercompany loans, in each case, that are reasonably satisfactory to Styrolution in its discretion and result in aggregate net proceeds to Styrolution in a sufficient quantity to pay the redemption price for the Notes, including applicable premium, in full and pay all related expenses on or prior to the redemption date (the "Refinancing Condition"). If the redemption occurs, the Notes will be redeemed in full. Styrolution and INEOS Styrolution Holding GmbH continue to evaluate the debt markets and intend to complete the financing transaction and subsequent redemption but there can be no assurance that any of the financing transaction or redemption will be completed. If and when the Refinancing Condition is satisfied, Styrolution will announce the satisfaction of the Refinancing Condition via press release.
ABOUT INEOS STYROLUTION
INEOS Styrolution is the leading, global styrenics supplier with a focus on styrene monomer, polystyrene, ABS Standard and styrenic specialties. With world-class production facilities and more than 85 years of experience, INEOS Styrolution helps its customers succeed by offering the best possible solution, designed to give them a competitive edge in their markets. The company provides styrenic applications for many everyday products across a broad range of industries, including automotive, electronics, household, construction, healthcare, toys/sports/leisure, and packaging. In 2015, sales were at 5 billion euros. INEOS Styrolution employs approximately 3,100 people and operates 15 production sites in nine countries.