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The Chemours Company (NYSE: CC) has completed a private offering of $600 million in 8.000% senior unsecured notes due 2033. The notes are guaranteed by certain Chemours subsidiaries and were offered exclusively to qualified institutional buyers and non-U.S. persons. The net proceeds will be used to redeem all outstanding euro-denominated 4.000% Senior Notes due 2026 (€440,810,000), with the remainder allocated for general corporate purposes.
La Chemours Company (NYSE: CC) ha completato un'offerta privata di 600 milioni di dollari in obbligazioni senior non garantite al tasso del 8.000% con scadenza nel 2033. Le obbligazioni sono garantite da alcune sussidiarie Chemours e sono state offerte esclusivamente a compratori istituzionali qualificati e a soggetti non statunitensi. Il provento netto sarà utilizzato per rimborsare tutte le obbligazioni senior denominate in euro al tasso del 4.000% in scadenza nel 2026 (€440,810,000), mentre il resto sarà destinato a scopi aziendali generali.
La empresa Chemours (NYSE: CC) ha completado una oferta privada de 600 millones de dólares en notas senior no garantizadas con un interés del 8.000% con vencimiento en 2033. Las notas están garantizadas por ciertas filiales de Chemours y se ofrecieron exclusivamente a compradores institucionales calificados y a personas no estadounidenses. Los ingresos netos se utilizarán para redimir todas las notas senior denominadas en euros al 4.000% que vencen en 2026 (€440,810,000), mientras que el resto se destinará a fines corporativos generales.
케모르스 컴퍼니 (NYSE: CC)는 2033년에 만기를 맞는 8.000% 무보증 고급 채권 6억 달러의 사모 발행을 완료했습니다. 이 채권은 특정 케모르스 자회사가 보증하며, 자격이 갖춰진 기관 투자자와 비미국인에게만 제공되었습니다. 순수익은 2026년에 만기가 도래하는 유로로 표시된 4.000% 고급 노트(€440,810,000)를 상환하는 데 사용되며, 나머지는 일반 기업 용도로 배분됩니다.
La société Chemours (NYSE: CC) a achevé une offre privée de 600 millions de dollars en obligations senior non garanties à 8.000% échoit en 2033. Les obligations sont garanties par certaines filiales de Chemours et ont été offertes exclusivement à des acheteurs institutionnels qualifiés et à des personnes non américaines. Les produits nets seront utilisés pour racheter toutes les obligations senior libellées en euros à 4.000% arrivant à échéance en 2026 (€440,810,000), le reste étant destiné à des fins corporatives générales.
Die Chemours Company (NYSE: CC) hat ein privates Angebot von 600 Millionen Dollar an unbesicherten Senior Notes mit einer Verzinsung von 8.000 %, die 2033 fällig werden, abgeschlossen. Die Notes werden von bestimmten Tochtergesellschaften von Chemours garantiert und wurden ausschließlich qualifizierten institutionellen Käufern und Nicht-US-Personen angeboten. Der Nettoprofit wird verwendet, um alle ausstehenden in Euro denominierten 4.000% Senior Notes, die 2026 fällig sind (€440,810,000), einzulösen, während der verbleibende Betrag für allgemeine Unternehmenszwecke vorgesehen ist.
Positive
- Successful completion of $600 million debt offering
- Refinancing of existing euro-denominated debt indicates proactive debt management
Negative
- Higher interest rate of 8.000% on new notes compared to 4.000% on existing notes
- Increased debt servicing costs will impact future cash flows
Insights
This debt refinancing represents a significant but costly move for Chemours. The new
The transaction will impact Chemours' interest expense and debt service costs materially. Based on current exchange rates, they're effectively refinancing about
The net proceeds of the offering are expected to be used to redeem all of the Company’s outstanding euro-denominated
The Notes and the related guarantees have not been, and will not be, registered under the Securities Act or any state securities laws, and unless so registered, may not be offered or sold in
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. This press release is not an offer to purchase or the solicitation of an offer to sell any of the existing 2026 notes. The statements in this press release with respect to the redemption of the existing 2026 notes do not constitute a notice of redemption under the indenture governing the existing 2026 notes. Any such notice has or will be sent to holders of existing 2026 notes only in accordance with the provisions of such indenture.
About The Chemours Company
The Chemours Company (NYSE: CC) is a global leader in providing industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and advanced electronics, general industrial, and oil and gas. Through our three businesses – Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials – we deliver application expertise and chemistry-based innovations that solve customers’ biggest challenges. Our flagship products are sold under prominent brands such as Opteon™, Freon™, Ti-Pure™, Nafion™, Teflon™, Viton™, and Krytox™. Headquartered in
For more information, we invite you to visit chemours.com or follow us on X (formerly Twitter) @Chemours or LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical or current fact. The words “believe,” “expect,” “will,” “anticipate,” “plan,” “estimate,” “target,” “project” and similar expressions, among others, generally identify “forward-looking statements,” which speak only as of the date such statements were made. These forward-looking statements address, among other things, the closing of the offering of Notes and Chemours’ intended use of the net proceeds therefrom, including the expectation to redeem all of the outstanding existing 2026 notes, which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements are based on certain assumptions and expectations of future events that may not be accurate or realized. Forward-looking statements also involve risks and uncertainties, many of which are beyond Chemours’ control. Additionally, there may be other risks and uncertainties that Chemours is unable to identify at this time or that Chemours does not currently expect to have a material impact on its business. Factors that could cause or contribute to these differences include the redemption of the existing 2026 notes; and the risks, uncertainties and other factors discussed in Chemours’ filings with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20241127365482/en/
INVESTORS
Brandon Ontjes
Vice President, Investor Relations
+1.302.773.3300
investor@chemours.com
Kurt Bonner
Manager, Investor Relations
+1.302.773.0026
investor@chemours.com
NEWS MEDIA
Cassie Olszewski
Media Relations & Reputation Leader
+1.302.219.7140
media@chemours.com
Source: The Chemours Company
FAQ
What is the interest rate and maturity of Chemours' (CC) new senior notes offering?
Chemours' new senior notes offering has an interest rate of 8.000% and will mature in 2033.
How much did Chemours (CC) raise in its senior notes offering?
Chemours raised $600 million through its senior unsecured notes offering.
What will Chemours (CC) use the proceeds from the 2033 notes for?
The proceeds will be used to redeem all outstanding euro-denominated 4.000% Senior Notes due 2026 (€440,810,000), with the remainder for general corporate purposes.
Are Chemours' (CC) 2033 senior notes registered under the Securities Act?
No, the notes are not registered under the Securities Act and were offered only to qualified institutional buyers and non-U.S. persons.