ERROR 1
ERROR 1
ERROR 2
ERROR 2
ERROR 2
ERROR 2
ERROR 2
Password and Confirm password must match.
If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)
ERROR 2
ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.
LyondellBasell Industries hasn't made interest payments on two bonds due in 2015. The interest was originally due in mid-February, but the company had a 30-day grace period to pay. LyondellBasell spokesman David Harpole says the company cannot make the payments because of legal reasons related to the bankruptcy of its U.S. subsidiaries. "There are a number of contractual restrictions that limit the company's ability to pay the interest," he says. Once the legal issues are resolved, the company can make a "final determination" of how it can proceed, he adds, noting that LyondellBasell has a 60-day restraining order against holders of those bonds. The company did recently pay interest on bonds due in 2027. Separately, LyondellBasell has named Edward J. Dineen chief operating officer. Dineen, 54, has spent more than 30 years with LyondellBasell and predecessor companies and was most recently the president of LyondellBasell's chemical division.
Join the conversation
Contact the reporter
Submit a Letter to the Editor for publication
Engage with us on Twitter