Ineos Styrolution signs bridge, term loan and revolver for BP buy

ineos refining adobe stock 575x375
By Silas Brown
04 Aug 2020

Ineos Styrolution, the styrenics supplying unit of Ineos, has signed a number of loan facilities to support its $5bn acquisition of BP’s aromatics and acetyls businesses. There were roughly $9bn in commitments from 23 banks.

Styrolution’s acquisition was announced in late June. The deal is valued at $5bn, made up from $4bn of debt and $1bn of equity.

To support the acquisition, Styrolution has signed a $3.5bn-equivalent two year bridge loan, and three and five year term loans. There is also a three year ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial