Dollar high yield deal of the year – LyondellBasell
Bookrunners: Bank of America Merrill Lynch, Barclays Capital, Citi, Credit Suisse, Deutsche Bank, JP Morgan, Morgan Stanley, UBS, Wells Fargo
Issuer: LBI Escrow Corporation
Issue date: March 24, 2010
Ratings: Ba3 (Moody’s)
Size: $2.75 billion equivalent
Maturity: November 1, 2017 (callable May 2013)
Tranche size: $2.25 billion (USD);
€375 million (EUR)
Coupon: 8.00%; 8.00%
Issue spread: 477bp + US Treasuries; 519bp + Bunds
As the first multi-billion dollar high yield deal to price at par since the financial crisis, and featuring the largest individual tranche since June 2008, the $2.75 billion offering by LyondellBasell in March was already a
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