Latham Advises on NOVA Chemicals’ Senior Notes Offering and Concurrent Tender Offer

NOVA Chemicals Corporation (NOVA) has announced it priced an offering of US$650 million aggregate principal amount of 9.00% senior notes at a price of 100.000% (the Notes Offering). The Notes Offering is being made in connection with a concurrent tender offer for NOVA’s existing senior notes due 2024 (the Tender Offer). The Tender Offer will be financed by the amounts raised in the Notes Offering (net of transaction fees and expenses) along with cash on hand, and the Tender Offer is conditioned upon the satisfaction or, when applicable, waiver of customary certain conditions.

Latham & Watkins LLP represents the initial purchasers in the Notes Offering and the dealer managers in the Tender Offer with a corporate deal team led by Austin partner David Miller, Houston partner Monica White, and Austin partner Michael Chambers, with associates Zainab Hashmi, Emma Fichtel, Mason Taylor, and Don Izekor. Advice was also provided on tax matters by Houston partner Bryant Lee, with associate Dylan White; and on environmental matters by Los Angeles/Houston partner Josh Marnitz, with associate Phil Sandick.