Nova Chemicals

NOVA CHEMICALS CORPORATION ANNOUNCES EARLY TENDER RESULTS OF CASH TENDER OFFER FOR ITS 4.875% SENIOR NOTES DUE 2024

Retrieved on: 
Monday, November 27, 2023
Tender offer, Latham & Watkins, RBC, RBC Capital Markets, Toll, NOVA, Settlement, Tender, Torys, Date, Capital market, Nova Chemicals, Cryptocurrency

The Aggregate Maximum Principal Amount has been fully subscribed by the Notes tendered as of the Early Tender Date.

Key Points: 
  • The Aggregate Maximum Principal Amount has been fully subscribed by the Notes tendered as of the Early Tender Date.
  • NOVA Chemicals does not anticipate accepting for purchase any Notes validly tendered after the Early Tender Date.
  • NOVA Chemicals is making the Tender Offer only in those jurisdictions where it is legal to do so.
  • Copies of the Offer to Purchase are available to holders of Notes from Global Bondholder Services Corporation, the information and tender agent for the Tender Offer.

NOVA Chemicals Corporation Announces Pricing of Private Offering of $400 Million of Senior Secured Notes

Retrieved on: 
Thursday, November 9, 2023
Sale, Torys, HSBC, LLP, NOVA, Nova Chemicals, AB, SMBC Nikko Securities, National bank, Latham & Watkins, RBC Capital Markets, SEC Rule 144A, Regulation, News, Security (finance)

CALGARY, AB, Nov. 09, 2023 (GLOBE NEWSWIRE) -- NOVA Chemicals Corporation (the “Company”) announced today the pricing of a private offering of $400 million of senior secured notes, structured as 5-year non-call 2, which includes a special redemption feature to redeem up to 10% annually at 103% during the non-call period, due 2028 (the “2028 notes”).

Key Points: 
  • CALGARY, AB, Nov. 09, 2023 (GLOBE NEWSWIRE) -- NOVA Chemicals Corporation (the “Company”) announced today the pricing of a private offering of $400 million of senior secured notes, structured as 5-year non-call 2, which includes a special redemption feature to redeem up to 10% annually at 103% during the non-call period, due 2028 (the “2028 notes”).
  • Alongside the 2028 notes offering, the Company announced a tender offer and consent solicitation for $400 million of its $1,050 million 4.875%, senior notes due 2024 (the “2024 notes”).
  • The Company plans to use the net proceeds of the 2028 notes offering to redeem $400 million of 2024 notes, to pay fees and expenses related to the offering, and general corporate purposes.
  • The closing of the offering of the 2028 notes is expected to occur on November 28, 2023, subject to customary closing conditions.

NOVA CHEMICALS CORPORATION ANNOUNCES CASH TENDER OFFER FOR ITS 4.875% SENIOR NOTES DUE 2024

Retrieved on: 
Wednesday, November 8, 2023
Tender offer, Toll, Tender, RBC Capital Markets, NOVA, Expiration, Nova Chemicals, Mini-tender offer, Bangladesh Securities and Exchange Commission, Date, Settlement, Expiration date, Security (finance), Life insurance, Cryptocurrency, Bank, Note

The Total Consideration includes an early tender payment (the “Early Tender Payment”) of $30.00 for each $1,000 principal amount of the Notes, which Early Tender Payment is in addition to the Tender Offer Consideration (as defined below).

Key Points: 
  • The Total Consideration includes an early tender payment (the “Early Tender Payment”) of $30.00 for each $1,000 principal amount of the Notes, which Early Tender Payment is in addition to the Tender Offer Consideration (as defined below).
  • NOVA Chemicals is making the Tender Offer only in those jurisdictions where it is legal to do so.
  • Holders must decide whether to tender Notes, and if tendering, the amount of Notes to tender.
  • Copies of the Offer to Purchase are available to holders of Notes from Global Bondholder Services Corporation, the information and tender agent for the Tender Offer.

Amcor and NOVA Chemicals announce agreement to source mechanically recycled polyethylene

Retrieved on: 
Wednesday, November 8, 2023
ASX, RPE, Recycling, Environment, MOU, AMC, Nova Chemicals, Plastic, Nova, NYSE, AMCR, Bottled water, Lumber, Amcor

DEERFIELD, Ill., Nov. 8, 2023 /PRNewswire/ -- Amcor (NYSE: AMCR, ASX:AMC), a global leader in developing and producing responsible packaging solutions, today announced a Memorandum of Understanding (MOU) with leading sustainable polyethylene producer NOVA Chemicals Corporation ("NOVA Chemicals") for the purchase of mechanically recycled polyethylene resin (rPE) for use in flexible packaging films. Increasing the use of rPE in flexible packaging applications is an important element of Amcor's commitment to support packaging circularity.

Key Points: 
  • DEERFIELD, Ill., Nov. 8, 2023 /PRNewswire/ -- Amcor (NYSE: AMCR, ASX:AMC), a global leader in developing and producing responsible packaging solutions, today announced a Memorandum of Understanding (MOU) with leading sustainable polyethylene producer NOVA Chemicals Corporation ("NOVA Chemicals") for the purchase of mechanically recycled polyethylene resin (rPE) for use in flexible packaging films.
  • Increasing the use of rPE in flexible packaging applications is an important element of Amcor's commitment to support packaging circularity.
  • The supply agreement would enable Amcor to purchase SYNDIGO™ rPE resin, manufactured at NOVA Chemicals' first mechanical recycling facility in Connersville, Indiana, which is projected to be in operation as early as 2025.
  • The recycling facility was announced in July as a significant expansion of NOVA Chemicals' Circular Solutions business.

Amcor and NOVA Chemicals announce agreement to source mechanically recycled polyethylene

Retrieved on: 
Wednesday, November 8, 2023
ASX, RPE, Recycling, Environment, MOU, AMC, Nova Chemicals, Plastic, Nova, NYSE, AMCR, Bottled water, Lumber, Amcor

DEERFIELD, Ill., Nov. 8, 2023 /PRNewswire/ -- Amcor (NYSE: AMCR, ASX:AMC), a global leader in developing and producing responsible packaging solutions, today announced a Memorandum of Understanding (MOU) with leading sustainable polyethylene producer NOVA Chemicals Corporation ("NOVA Chemicals") for the purchase of mechanically recycled polyethylene resin (rPE) for use in flexible packaging films. Increasing the use of rPE in flexible packaging applications is an important element of Amcor's commitment to support packaging circularity.

Key Points: 
  • DEERFIELD, Ill., Nov. 8, 2023 /PRNewswire/ -- Amcor (NYSE: AMCR, ASX:AMC), a global leader in developing and producing responsible packaging solutions, today announced a Memorandum of Understanding (MOU) with leading sustainable polyethylene producer NOVA Chemicals Corporation ("NOVA Chemicals") for the purchase of mechanically recycled polyethylene resin (rPE) for use in flexible packaging films.
  • Increasing the use of rPE in flexible packaging applications is an important element of Amcor's commitment to support packaging circularity.
  • The supply agreement would enable Amcor to purchase SYNDIGO™ rPE resin, manufactured at NOVA Chemicals' first mechanical recycling facility in Connersville, Indiana, which is projected to be in operation as early as 2025.
  • The recycling facility was announced in July as a significant expansion of NOVA Chemicals' Circular Solutions business.

Novolex Releases Fifth Annual Sustainability Report

Retrieved on: 
Thursday, July 27, 2023
Nova Chemicals, Global Reporting Initiative, ESG, Growth, DEI, PCR, Collection, Recycling, Forest, Renewable energy

HARTSVILLE, S.C., July 27, 2023 /PRNewswire/ -- Novolex® released its fifth annual sustainability report today, providing a comprehensive account of the company's strides toward its ambitious environmental, social and governance (ESG) goals.

Key Points: 
  • Report highlights Novolex progress towards its bold ESG commitments, including increasing recycling capacity and developing more sustainable products
    HARTSVILLE, S.C., July 27, 2023 /PRNewswire/ -- Novolex® released its fifth annual sustainability report today, providing a comprehensive account of the company's strides toward its ambitious environmental, social and governance (ESG) goals.
  • The 2022 Novolex Sustainability Report details the company's accomplishments in increasing its recycling capacity, diverting waste from landfills, and using more Chain-of-Custody certified fiber and bio-based resins in its products.
  • "As a proud leader in the packaging industry, Novolex continues to set and achieve ESG goals for our business and for our customers," said Stan Bikulege, Novolex Chairman and CEO.
  • "The 10,000 members of the Novolex family are working hard to develop more sustainable packaging solutions, expand recycling and reduce waste.

NOVA Chemicals Announces Company’s First Mechanical Recycling Facility, Operated by Novolex

Retrieved on: 
Tuesday, July 18, 2023
NOVA, Plastic, Hoosier, Cambridge Institute for Sustainability Leadership, AB, Nova Chemicals, Recycling, RPE, Nova, Chemical substance, Bottled water, Renewable energy

CALGARY, AB, July 18, 2023 (GLOBE NEWSWIRE) -- NOVA Chemicals Corporation (“NOVA Chemicals”) has made a significant expansion of its Circular Solutions business today by announcing an investment into developing its first mechanical recycling facility in Connersville, Ind.

Key Points: 
  • CALGARY, AB, July 18, 2023 (GLOBE NEWSWIRE) -- NOVA Chemicals Corporation (“NOVA Chemicals”) has made a significant expansion of its Circular Solutions business today by announcing an investment into developing its first mechanical recycling facility in Connersville, Ind.
  • “NOVA Chemicals continues to show clear leadership in reshaping plastics for a better, more sustainable world,” said NOVA Chemicals President and CEO, Roger Kearns.
  • The collaboration will increase the speed with which NOVA Chemicals ramps up its supply of SYNDIGO rPE to the market.
  • “Novolex is proud to collaborate with NOVA Chemicals’ Circular Solutions and is excited by the opportunity to operate this state-of-the art recycling facility in the Hoosier state,” said Novolex Chairman and CEO, Stanley Bikulege.

Aduro Clean Technologies Engages in Panel Discussions at Leading Industry Conferences

Retrieved on: 
Tuesday, May 30, 2023
ACT, Plastic, CSE, Booth, HCT, FSE, Climate change mitigation, Government, Nova Chemicals, Chemistry, Oil, Corporation, BASF, Conference, Corporate development, Recycling, Renewable energy

Abe Dyck, Head of Corporate Development at Aduro, will join a panel discussion on "Decarbonization in the Chemistry and Plastics Sector."

Key Points: 
  • Abe Dyck, Head of Corporate Development at Aduro, will join a panel discussion on "Decarbonization in the Chemistry and Plastics Sector."
  • Dyck will be joined by industry leaders Rocky Vermani of Nova Chemicals and Dan Taylor of the Sarnia Lambton Economic Partnership, with the panel moderated by Bob Masterson of the Chemistry Industry Association of Canada.
  • In this panel, industry leaders Alejandro Astorga Gurza of Eastman and Fernando Perez Vas of BASF will deliver insightful presentations, discussing their strategies and technologies.
  • These industry conferences are an opportunity for us to showcase our work, engage with industry leaders, and build partnerships that will accelerate the commercialisation and adoption of innovative new technologies,” said Ofer Vicus, CEO, Aduro Clean Technologies.

Sumitomo Mitsui Banking Corporation Invests $10 Million in Closed Loop Partners' Circular Plastics Fund, Accelerating More Capital Toward Innovation and Infrastructure for Plastics Recovery and Recycling

Retrieved on: 
Tuesday, May 30, 2023
Plastic, Partnership, PE, SMBC, SK, Dow, Chevron Phillips Chemical, LyondellBasell, Nova Chemicals, Sumitomo Mitsui Banking Corporation, Recycling, Global warming potential, Investment, PP, Municipal solid waste, City, Society, Automation, SEE, Renewable energy, Bank

NEW YORK, May 30, 2023 /PRNewswire/ -- Closed Loop Partners announced a $10 million investment in its Closed Loop Circular Plastics Fund from Japanese multinational banking and financial services institution Sumitomo Mitsui Banking Corporation (SMBC).

Key Points: 
  • NEW YORK, May 30, 2023 /PRNewswire/ -- Closed Loop Partners announced a $10 million investment in its Closed Loop Circular Plastics Fund from Japanese multinational banking and financial services institution Sumitomo Mitsui Banking Corporation (SMBC).
  • The Closed Loop Circular Plastics Fund is a key part of Closed Loop Partners' broader strategy to reduce, reuse and recycle plastics in a circular economy.
  • This collaborative effort is key to advancing the recovery and recycling of plastics in the U.S. and Canada, at scale.
  • "The Closed Loop Circular Plastics Fund is a specialty strategy within our Closed Loop Infrastructure Group.

Capital Power Announces Appointment of Avik Dey as President and Chief Executive Officer, Brian Vaasjo to Retire

Retrieved on: 
Wednesday, April 19, 2023
IPO, The Carlyle Group, Culture, Nova Chemicals, Capital Power Corporation, Creativity, Indigenous peoples, Retirement, Happiness, Chairperson, Pleasure, TSX, Knowledge, Growth, Ecosystem, Avik, CPP Investment Board, Management

The appointment follows the planned retirement of Brian Vaasjo who will support Mr. Dey to ensure a seamless transition.

Key Points: 
  • The appointment follows the planned retirement of Brian Vaasjo who will support Mr. Dey to ensure a seamless transition.
  • The Board looks forward to working with Avik as we continue to engage with our stakeholders and grow shareholder value.
  • Most recently Mr. Dey held key executive leadership roles with The Carlyle Group, NOVA Chemicals, and Canada Pension Plan Investment Board.
  • All of us at Capital Power wish Brian health and happiness in the future.”
    “It has been an honour to lead Capital Power for the past 14 years,” said Vaasjo.