EFTA Document EFTA01385302

3January 2018 HY Corporate Credit HY Multi Sector,Media, Cable & Satellite New capacity is being built in the U.S. to take advantage of cheap feedstocks With the U.S. ethylene industry in the longest and strongest cycle in its history. over 15 greenfield ethylene projects have been announced in the U.S. to take advantage of low cost NGL feedstocks. Of these, 2 are operating (Dow, Oxy) and 6 are under construction with 5 of them world-scale (>1 MM m.t.). Total capacity of the 8 projects i