EFTA Document EFTA01385298

3 January 2018 HY Corporate Credit HY Multi Sector,Media, Cable & Satellite NOVA Chemicals (NCX) 4.875% Senior Notes '24, 5.000% Senior Notes '25 and 5.250% Senior Notes '27 Since EBITDA expanded rapidly in 2011 as a by-product of North American producers having a feedstock cost advantage over its competitors in Europe and Asia, NOVA Chemicals has been operating with a very conservative balance sheet with net debt near zero over that period. 2017 has seen a change in the capital structu