Simpson Thacher represented NOVA Chemicals Corporation (“NOVA Chemicals”) in connection with its offering of $400 million aggregate principal amount of 7.00% senior notes due 2031. NOVA Chemicals plans to use the net proceeds of the offering, together with cash on hand, to repay its senior secured term loan facility and terminate all commitments thereunder.
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, Traci Biedermann, Jacob Bryant and Ethan McGinty (Capital Markets); Jon Cantor and Paul Jansch (Tax); Michael Isby (Environmental); and Pasco Struhs (Executive Compensation and Employee Benefits).