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2005-10-23 News Headlines Plastics and Chemicals

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NOVA Chemicals and Plastics Announces Senior Notes Offering

NOVA producer of commodity plastics and chemicals announces intentions to issue senior floating rate notes due 2013 in a private offering.

NOVA Chemicals Corporation announced that it intends to issue $300 million of senior floating rate notes due 2013 in a private offering. The Company plans to use the net proceeds of the offering to repay obligations under its accounts receivable securitization programs. The balance of the proceeds will be used for general corporate purposes.

The senior notes will be issued in reliance on the exemption from the registration requirements provided by Rule 144A of the United States Securities Act of 1933, as amended (the "Securities Act"). None of the senior notes have been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security, nor will there be any sale of any security in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

NOVA Chemicals produces commodity plastics and chemicals that are essential to everyday life. Our employees develop and manufacture materials for customers worldwide that produce consumer, industrial and packaging products. Company shares are traded on the Toronto and New York stock exchanges as NCX.

Find information about NOVA Chemicals. that recently acquired a groundbreaking technology used to manufacture expandable polystyrene (EPS) cups and containers.

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