Osler represented NOVA Chemicals Corporation (“NOVA”) in its 2023 private placement of US$400 million senior secured notes due 2028 (the “2028 Notes”) and its 2024 private placement of US$650 million senior unsecured notes due 2030(the “2030 Notes”). The 2028 Notes have an interest rate of 8.50% per annum.
Concurrently with the 2028 Notes offering, NOVA completed a tender offer for US$400 million of its $1,050 million 4.875% senior notes due 2024 (the “2024 Notes”). The 2030 Notes have an interest rate of 9% per annum. Concurrently with the 2030 Notes offering, NOVA completed a tender offer for any and all of its remaining US$650 million 2024 Notes. In connection with the 2028 Notes offering, Osler also represented NOVA in its amendment and restatement of its senior secured US$1.50 billion revolving credit facility and US$400 million term loan and related security amendments.
NOVA Chemicals Corporation operates as a North American petrochemical company.
Osler, Hoskin & Harcourt LLP advised NOVA Chemicals Corporation with a team consisting of John Macfarlane, Sandra Malcolm, (Corporate), Richard Borins, Malcolm Peck-McQueen, Hayley Larkin (Financial Services), David Davachi and James Chang (Tax).