Westlake Corp Updates NYSE Listings for Common Stock, 2029 Notes

TL;DR

**Westlake just confirmed its stock and 2029 notes are officially listed on the NYSE.**

AI Summary

Westlake Corporation filed an 8-K on February 6, 2024, to update the securities registered under Section 12(b) of the Securities Exchange Act of 1934. The filing specifically lists their Common Stock (WLK) and 1.625% Senior Notes due 2029 (WLK29) as being registered on The New York Stock Exchange. This matters to investors because it confirms the official listing and trading venues for these securities, providing transparency and liquidity information.

Why It Matters

This filing confirms the official exchange listings for Westlake's common stock and senior notes, which is crucial for investors to understand where these securities are traded and their regulatory status.

Risk Assessment

Risk Level: low — This filing is purely administrative, updating registered securities, and does not indicate any financial or operational risks.

Analyst Insight

A smart investor would note this administrative update confirms the continued listing of Westlake's securities on a major exchange, ensuring liquidity and regulatory compliance, but it doesn't provide new financial performance data to act upon.

Key Numbers

• 2024-02-06 — Date of Report (earliest event reported)
• 1.625% — Interest Rate (for Senior Notes due 2029)
• 2029 — Maturity Year (for Senior Notes)

Key Players & Entities

• Westlake Corporation (company) — registrant
• The New York Stock Exchange (company) — exchange where securities are registered
• WLK (company) — trading symbol for Common Stock
• WLK29 (company) — trading symbol for 1.625% Senior Notes due 2029

Forward-Looking Statements

• Westlake Corporation's Common Stock and 1.625% Senior Notes due 2029 will continue to trade on The New York Stock Exchange. (Westlake Corporation) — high confidence, target: Ongoing

FAQ

Key Financial Figures

• $382 million — The settlements totaling approximately $382 million in the aggregate were reached with all
• $150 million — hese events. As a result, approximately $150 million of the $382 million total final settlem

Filing Documents

• wlk-20240206.htm (8-K) — 28KB
• 0001262823-24-000002.txt ( ) — 197KB
• wlk-20240206.xsd (EX-101.SCH) — 3KB
• wlk-20240206_def.xml (EX-101.DEF) — 16KB
• wlk-20240206_lab.xml (EX-101.LAB) — 31KB
• wlk-20240206_pre.xml (EX-101.PRE) — 16KB
• wlk-20240206_htm.xml (XML) — 4KB

02. Results of Operations and Financial Condition

Item 2.02. Results of Operations and Financial Condition. As previously disclosed, Westlake Corporation (the "Company") was involved in lawsuits relating to the September 2021 flash fire at the quench tower of its Petro 2 facility (the "Petro 2 Flash Fire") and the January 2022 ethylene dichloride storage tank explosion at one of its Lake Charles, Louisiana complexes (the "EDC Storage Tank Explosion"). Settlements have been reached to fully resolve the lawsuits relating to the Petro 2 Flash Fire and the EDC Storage Tank Explosion. The settlements totaling approximately $382 million in the aggregate were reached with all of the plaintiffs to resolve the lawsuits, but payment by the Company and the insurance carriers has not yet been completed. Certain of the Company's excess insurers have taken the position that there has been insufficient exhaustion of the retention levels beneath their respective attachment points to obligate them to cover these events. As a result, approximately $150 million of the $382 million total final settlement amount is currently not being covered by the insurers. The Company disagrees with the insurers' coverage position, and is pursuing recovery of the approximately $150 million and any other amount that it may be entitled to. As a result, the Company expects to record a charge of approximately $150 million in the fourth quarter of 2023 to reflect the portion of the $382 million total settlement amount that is currently subject to dispute with the insurers. The information furnished pursuant to this Current Report on Form 8-K shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified as being incorporated therein.

Forward-Looking Statements

Forward-Looking Statements The statements in this Current Report on Form 8-K that are not historical facts, including statements regarding the applicability of insurance coverage and the likelihood of recovery, are forward-looking statements within the meaning of the U.S. securities laws. These forward-looking statements are subject to significant risks and uncertainties, many of which are beyond the Company's control. Actual results could differ materially, based on factors including, but not limited to: the willingness and ability of the insurance carriers to provide coverage; legal challenges involving the relevant insurance policies; and other risks and uncertainties. For more detailed information about the factors that could cause actual results to differ materially, please refer to Westlake's Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC in February 2023, and Westlake's latest Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, which was filed with the SEC in November 2023. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WESTLAKE CORPORATION Date: February 6, 2024 By: /s/ L. Benjamin Ederington L. Benjamin Ederington Executive Vice President, Performance and Essential Materials, General Counsel and Chief Administrative Officer

View Full Filing

View this 8-K filing on SEC EDGAR