Frankfurt, Germany – July 14, 2014 – Styrolution today announced that it intends to borrow term loans of approximately €1.6 billion (in combination of euro and U.S. dollars) under a new credit agreement. The net proceeds from the term loans will be used (i) to redeem Styrolution's existing 7.625% senior secured notes due 2016, (ii) to pay applicable redemption premiums, (iii) to on-lend to INEOS Styrolution Holding GmbH the consideration for the acquisition by it of the capital stock of Styrolution Holding GmbH held by BASF SE and BASF Antwerpen N.V. and (iv) to pay fees and expenses incurred in connection with the term loans, such redemption and such acquisition (the "Financing"). There can be no assurance that the Financing or other transactions will be completed.
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.