Tronox (TROX) Unit Closes $900M Senior Debt Offering
Tweet Send to a FriendGet Alerts TROX Hot Sheet
Up)
Trade TROX Now!
Tronox Limited (NYSE: TROX) announced today that its subsidiary, Tronox Finance LLC, has closed the offering of $900 million aggregate principal amount of its 6.375 percent Senior Notes due 2020. The offering was made to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act.
The notes bear interest semiannually at a rate equal to 6.375 percent and were sold to the holders at par value. The notes are fully and unconditionally guaranteed on a senior, unsecured basis by Tronox Limited and certain of its subsidiaries.
Approximately $400 million of the proceeds of the notes are expected to be used for returns of shareholder capital, including share buybacks. The remainder of the proceeds is expected to be used for general corporate purposes, and subject to required approvals may also be used for further returns of capital to shareholders from time to time (including by way of dividend).
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The notes bear interest semiannually at a rate equal to 6.375 percent and were sold to the holders at par value. The notes are fully and unconditionally guaranteed on a senior, unsecured basis by Tronox Limited and certain of its subsidiaries.
Approximately $400 million of the proceeds of the notes are expected to be used for returns of shareholder capital, including share buybacks. The remainder of the proceeds is expected to be used for general corporate purposes, and subject to required approvals may also be used for further returns of capital to shareholders from time to time (including by way of dividend).
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Google (GOOG) Improves Maps for Mobile
- Triple-S (GTS) Prices 5.4M Common Secondary Offering
- Arkansas Best (ABFS) Changes Nonunion DB Pension Plan; Sees Material Impact
Create E-mail Alert Related Categories
Corporate NewsRelated Entities
Dividend
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
