Capital/Financing Update • Apr 21, 2016
Capital/Financing Update
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This press release has been prepared for informational purposes only and does not constitute an offer to sell or solicitation to buy the bonds or any other securities. Any such offer or solicitation will be made only by means of the official statement or limited offering memorandum describing the bonds and in accordance with the terms of all applicable securities and other laws. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended. This press release contains forward looking statements and no assurances can be given that the transactions referenced will occur at the times or on the terms described.
Amsterdam, The Netherlands / 21 April, 2016
OCI N.V. (Euronext: OCI) and Consolidated Energy Limited (CEL) today announced that Citi and Morgan Stanley have priced and fully underwritten approximately \$250 million of tax-exempt Mission Economic Development Corporation Senior Revenue Lien Bonds (Natgasoline Project), Series 2016. The debt financing is to fund a portion of the costs to construct the Natgasoline LLC project in Beaumont, Texas.
OCI and CEL will each be 50% equity partners in the project. On 13 April 2016, CEL entered into definitive agreements with OCI for an investment in a 50% stake in Natgasoline LLC and will invest \$630 million in equity and a \$50 million shareholder loan in the project through its wholly owned subsidiary G2X Energy (Beaumont) LLC, thus completing the funding requirements for the project.
Citi and Morgan Stanley have launched a roadshow process to market the bonds to institutional investors, which is anticipated to occur the week of April 25th, with closing in early May. The bond issuance transaction is rated BB- (preliminary) by Standard & Poor's (S&P).
Proman is a leading engineering, procurement and construction group specializing in managing large EPC projects on a lump sum turnkey basis in many different countries and regions around the world. Additionally, Proman is one of the largest owner/operators of methanol production in the world and is active in co-marketing and distributing petrochemicals. Proman is present on four continents and in 12 countries, with over 1,500 employees worldwide.
For more information visit www.proman.org
CEL is the 2nd largest producer of methanol in the world with 4.1MM tonnes per annum of installed capacity through its 100% subsidiary Methanol (Holding) Trinidad Limited ("MHTL"). MHTL is the largest methanol exporter to North America and significant producer of fertilizer products. CEL further owns three strategic, minority stakes via Oman Methanol Company LLC ("OMC"), a world scale methanol plant in Sohar, Oman, Nitrogen 2000 Unlimited ("N2000"), an ammonia plant and storage facility in Trinidad and Caribbean Nitrogen Company Limited ("CNC"), an ammonia plant and storage facility in Trinidad.
Houston-based G2X Energy develops, owns and operates production facilities that convert natural gas to methanol for the US and international markets. Transforming natural gas by leveraging existing infrastructure and proven conversion technologies, G2X meets the demand for cost-competitive methanol and chemicals using abundant, clean, domestic US natural gas.
For more information, please visit www.g2xenergy.com or call (713) 943-2200.
Helm AG is a multifunctional distribution company that specializes in chemicals, fertilizers, nutrition, pharmaceutical products and crop protection. Helm was founded 1900 in Hamburg and the company has been family owned since 1950. Today Helm is active globally via 90 subsidiaries and sales offices in 30 countries worldwide.
OCI N.V. (Euronext: OCI) is a global producer and distributor of natural gas-based fertilizers & industrial chemicals based in the Netherlands. OCI produces nitrogen fertilizers, methanol and other natural gas based products, serving agricultural and industrial customers from the Americas to Asia. OCI ranks among the world's largest nitrogen fertilizer producers, and can produce more than 8.4 million metric tons of nitrogen fertilizers and industrial chemicals at production facilities in the Netherlands, the United States, Egypt and Algeria. OCI is listed on Euronext in Amsterdam.
Hans Zayed Director Email: [email protected]
Tel: +31 (0) 6 18 251 367
For additional information on OCI:
OCI stock symbols: OCI / OCI.NA / OCI.AS / OCINY
Honthorststraat 19 1071 DC Amsterdam The Netherlands
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