Simpson Thacher is representing NOVA Chemicals Corporation (“NOVA Chemicals”) in connection with its offering of $400 million aggregate principal amount of 8.500% senior secured first lien notes due 2028. NOVA Chemicals plans to use the net proceeds of the offering to fund a cash tender offer to purchase up to $400 million aggregate principal amount of its 4.875% senior notes due 2024 (the “Tender Offer”). The Firm also represents NOVA Chemicals in connection with the Tender Offer.
NOVA Chemicals develops and manufactures chemicals and plastic resins that make everyday life healthier, easier and safer. NOVA Chemicals, headquartered in Calgary, Alberta, Canada, is wholly owned ultimately by Mubadala Investment Company PJSC of the Emirate of Abu Dhabi, United Arab Emirates, which, in turn is wholly owned by the government of the Emirate of Abu Dhabi.
The Simpson Thacher team included Brian E. Rosenzweig, Matt Hart, Ryan Poché, Christine Robb and Terrance Brown (Capital Markets); Jon Cantor and Paul Jansch (Tax); Michael Isby (Environmental); Pasco Struhs (Executive Compensation and Employee Benefits); Kate Mirino and Cara Anstey (Intellectual Property).