Slaughter and May advised INEOS Olefins & Polymers UK (INEOS) on its successful application for a financial guarantee from Her Majesty's Treasury under the UK Guarantees Scheme and the related issue of EUR 285 million guaranteed unsecured notes by INEOS Grangemouth plc due 2019.

The proceeds of the issuance will be invested in the construction of an import facility and ethane tank at INEOS' petrochemical facility site in Grangemouth, Scotland. The construction to be undertaken at the site is considered to be one of the most significant infrastructure projects announced in Scotland in recent years.

CONTACTS

Financing: Guy O'Keefe (partner), Andrew Johnson (partner), Matthew Gibson (associate), Jonathan Keane (associate), Kevin Johnston (associate)