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Borealis Launches Credit Syndication - Borealis has mandated The Bank of Tokyo-Mitsubishi UFJ, Ltd, Barclays Bank PLC, Nordea Bank Danmark A/S, and UniCredit Bank Austria AG as Bookrunners and Coordinators to arrange a 5-year revolving credit facility
Borealis Launches Credit Syndication

 

PRZOOM - /newswire/ - Vienna, Austria, 2012/07/05 - Borealis has mandated The Bank of Tokyo-Mitsubishi UFJ, Ltd, Barclays Bank PLC, Nordea Bank Danmark A/S, and UniCredit Bank Austria AG as Bookrunners and Coordinators to arrange a 5-year revolving credit facility. Borealis

   
 
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Borealis, a leading provider of chemical and innovative plastics solutions, has mandated The Bank of Tokyo-Mitsubishi UFJ, Ltd., Barclays Bank PLC, Nordea Bank Danmark A/S, and UniCredit Bank Austria AG as Bookrunners and Coordinators to arrange a 5-year revolving credit facility with a launch amount of EUR 750 Million. The facility will be used for general corporate purposes including the refinancing of the company’s current revolving credit facility, which matures mid 2013.

“Borealis is very pleased to work again with its strong group of longstanding relationship banks in setting up this financing transaction,” says Jan-Martin Nufer, Director Treasury & Funding of Borealis. “The credit facility will naturally complement the company’s successful debt capital markets and other long term financings like the recent bond issuance and is an integral part of our conservative funding strategy.”

With sales of EUR 7.1 billion in 2011, customers in over 120 countries, and around 5,300 employees worldwide, Borealis is owned 64% by the International Petroleum Investment Company (IPIC) of Abu Dhabi and 36% by OMV, the leading energy group in the European growth belt. Borealis is headquartered in Vienna, Austria, and has production locations, innovation centres and customer service centres across Europe and the Americas.

Building on Borealis’ unique Borstar® technology and their more than 50 years experience in polyolefins, Borealis and Borouge provide innovative, value creating plastics solutions for the infrastructure (pipe systems and power and communication cables), automotive and advanced packaging markets. In addition, Borealis offers a wide range of base chemicals from melamine and fertilizer to phenol and acetone.

Borealis is a leading provider of chemical and innovative plastics solutions that create value for society. With sales of EUR 6.3 billion in 2010, customers in over 120 countries, and around 5,300 employees worldwide, Borealis is owned 64% by the International Petroleum Investment Company (IPIC) of Abu Dhabi and 36% by OMV, the leading energy group in the European growth belt. Borealis is headquartered in Vienna, Austria, and has production locations, innovation centres and customer service centres across Europe and the Americas.

Through Borouge, a joint venture between Borealis and the Abu Dhabi National Oil Company (ADNOC), one of the world’s major oil and gas companies, the company’s footprint reaches out to the Middle East, Asia Pacific, the Indian sub-continent and Africa. Established in 1998, Borouge employs approximately 1,700 people, has customers in more than 50 countries and is headquarters are in Abu Dhabi in the UAE and Singapore.

Building on Borealis’ unique Borstar® technology and their more than 50 years experience in polyolefins, Borealis and Borouge provide innovative, value creating plastics solutions for the infrastructure (pipe systems and power and communication cables), automotive and advanced packaging markets. In addition, Borealis offers a wide range of base chemicals from melamine and fertilizer to phenol and acetone.

Today, Borealis and Borouge have a manufacturing capacity of over 5.4 million tonnes of polyolefins (polyethylene and polypropylene) per year having recently completed a 1.5 million tonne capacity expansion in Abu Dhabi. The Borouge 3 plant expansion will be completed at the end of 2013 with a further capacity of 2.5 million tonnes per year (t/y) being fully operational in mid-2014. The companies continue to invest to ensure that their customers throughout the value chain and across the globe can always rely on product quality, consistency and security of supply.Borouge and Borealis are committed to the principles of Responsible Care® and proactively contribute to addressing the world’s water and sanitation challenges through their Water for the World™ initiative.

Water for the World is a trademark of the Borealis group. Borstar is a registered trademark of the Borealis group.

Investor relations:
Jan-Martin Nufer, Director Treasury & Funding
T: +43 1 22 400 320 - E: janmartin.nufer[.]borealisgroup.com.

 
 
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Borealis Launches Credit Syndication

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Contact: Kerstin Meckler - BorealisGroup.com 
+43 122 400 389 kerstin.meckler[.]borealisgroup.com
 
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