21 April 2016

Natgasoline Launches Underwritten $250 Million Bond Issue

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).


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.

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