Styrolution bonds dip as market mulls cost of BP acquisition

ineos refining adobe stock 575x375
By Owen Sanderson
30 Jun 2020

BP’s announcement that it was selling $5bn of assets to Ineos — a sale the already leveraged group will fund largely through new debt — put selling pressure on existing Ineos debt on Monday; particularly that issued by its Styrolution unit, which will be the acquirer in the BP deal.

Ineos has agreed a $400m short term bank facility to pay BP a deposit on the transaction. A further $3.6bn would be due on completion of the deal, which could be by the end of the year, and the remaining $1bn would be paid in phases through the ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial