by Stephen Carter
Sep 23, 2025 8:27 AM ET
INEOS Finance plc (INEOS Group) (INEGRP) EUR800m (up from EUR650m) 144A/Reg S sr sec notes due March 2031 (5.5y). NC2 (MWC B+50bp) (50%,25%,par). Equtiy clw: 2y 40%. B1/BB-/BB+ (negative/stable/negative). Via BNP/GS (B&D)/ING jt glocos and jt physical books/ABN/Commerzbank jt books. No reg rights. List Lux. NY law. CoC at 101. Denoms 100kx1k. IPT: Mid to high 7%. $150m upsize for same UOP.
Price talk: 7.25%-7.50%.
Roadshow (small group meetings 09/22) (investor call at 10:30am UKT 09/22). Books close at 2:30pm UKT 09/23. Pricing 09/23 UK afternoon. UOP: GCP, including partially prefund the remaining expenditure of Project ONE (INEOS Group's major capital investment in Antwerp, Belgium, a new ethane cracker). Biz: Global manufacturer of petrochemicals, specialty chemicals and oil products. It is a sub of INEOS Holdings Limited, part of the INEOS Group. HQ: London, UK.
NetRoadshow: https://www.netroadshow.com/nrs/home/. Access Code: INEOS-2025