From Earlier: Lyondell Chemical Company Announces Execution of Supplemental Indentures with Respect to its 8% Senior Secured Notes Due 2017 and 11% Senior Secured Notes Due 2018 and Expiration of Withdrawal Rights

LyondellBasell Industries N.V.

yesterday announced that holders of more than a majority of the outstanding principal amount of Lyondell Chemical Company's 8% Senior Secured Dollar Notes due 2017 and 8% Senior Secured Euro Notes due 2017 and holders of more than a majority of the outstanding principal amount of Lyondell Chemical's 11% Senior Secured Notes due 2018 [1] have provided consents to adopt the proposed amendments described in Lyondell Chemical's Offer to Purchase and Consent Solicitation Statement dated March 26, 2012. As a result, Lyondell Chemical and the trustees under the indentures have executed supplemental indentures to amend the indentures governing the Notes to eliminate substantially all of the covenants in the indentures governing such Notes, which will not become operative until Lyondell Chemical consummates its previously announced cash tender offers described in the Statement. Withdrawal and revocation rights have expired with respect to the tender offers and the consent solicitations pursuant to the Statement. Holders who have not tendered their Notes may still do so pursuant to the Statement, until 11:59 p.m., New York City time, on April 20, 2012, unless the Offer is extended or earlier terminated by Lyondell Chemical. However, holders who tender their Notes and deliver their consents after the previously announced consent payment expiration deadline of 5:00 p.m., New York City time, on April 6, 2012 will not be entitled to receive the previously announced consent payment of $30.00 per $1,000 (or euro 30.00 per euro 1,000 in the case of the Euro Notes) principal amount of Notes.