Westlake Chemical Announces Optional Redemption of $450 Million of Senior Notes

HOUSTON–(BUSINESS WIRE)–Westlake Chemical Corporation (NYSE: WLK) (“Westlake”) today announced
that notices of redemption have been delivered for the optional
redemption of all of the outstanding Westlake 4.875% Senior Notes due
2023 ($433,793,000 aggregate principal amount) and all of the
outstanding Axiall Corporation 4.875% Senior Notes due 2023 ($16,207,000
aggregate principal amount) (collectively, the “2023 Notes”). The 2023
Notes will be optionally redeemed on May 15, 2018 at a redemption price
equal to 102.438% of the principal amount of 2023 Notes plus accrued and
unpaid interest on the 2023 Notes to the redemption date. Westlake will
use cash on hand and, if necessary, borrowings under its revolving
credit facility to fund the redemption price for the 2023 Notes. The
redemption of the 2023 Notes is being made in accordance with the terms
of the indentures governing the 2023 Notes.

This news release does not constitute a notice of redemption under the
optional redemption provisions of the indentures governing the 2023
Notes, nor does it constitute an offer to sell, or a solicitation of an
offer to buy, any security. No offer, solicitation or sale will be made
in any jurisdiction in which such an offer, solicitation or sale would
be unlawful.

About Westlake

Westlake Chemical Corporation is an international manufacturer and
supplier of petrochemicals, polymers and building products with
headquarters in Houston. The company’s range of products includes:
ethylene, polyethylene, styrene, propylene, chlor-alkali and derivative
products, PVC suspension and specialty resins, PVC compounds, and PVC
building products including siding, pipe, fittings and specialty
components, windows, fence, deck and film.

Forward-Looking Statements

The statements in this release that are not historical facts are
forward-looking statements that are based on current expectations.
Although Westlake believes that its expectations are based on reasonable
assumptions, it can give no assurance that these expectations will prove
correct. Important factors that could cause actual results to differ
materially from those in the forward-looking statements include results
of operations, market conditions, capital needs and uses and other risks
and uncertainties that are beyond Westlake’s control, including those
described in Westlake’s Annual Report on Form 10-K for the fiscal year
ended December 31, 2017 and in its other filings with the Securities and
Exchange Commission. Forward-looking statements, like all statements in
this press release, speak only as of the date of this press release
(unless another date is indicated). Westlake does not undertake any
obligation to publicly update any forward-looking statements, whether as
a result of new information, future events, or otherwise.

Contacts

Westlake Chemical Corp.
Media Inquiries:
Ben
Ederington, 1-713-960-9111
or
Investor Inquiries:
Steve
Bender, 1-713-960-9111