Chemours completes $700 million debt offering to refinance existing bonds

The Chemours Company (NYSE: CC) completed a private offering of $700 million in 7.875% senior unsecured notes due 2034, the chemical company announced March 12.

The company used proceeds from the offering along with cash on hand to redeem $188 million of its 5.750% senior notes due 2028 for approximately $189.8 million, plus accrued interest. Chemours expects to use remaining proceeds to redeem outstanding 5.375% senior notes due 2027 for approximately $500.3 million, plus accrued interest.

The notes are senior unsecured obligations guaranteed by one of Chemours' subsidiaries. The offering was exempt from Securities Act registration requirements and was available only to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.

Chemours manufactures industrial and specialty chemicals for coatings, plastics, refrigeration, transportation, semiconductor and other markets through three business segments: Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials. The company operates 28 manufacturing sites and serves approximately 2,400 customers in about 110 countries.

The Wilmington, Delaware-based company has approximately 5,700 employees and trades on the New York Stock Exchange under the symbol CC.

You May Also Be Interested In

• AppFolio board sees departures and new appointments
• Guardian Pharmacy acquires Virginia LTC pharmacy Wellness Concepts
• IREN grants 9 million RSUs each to its two co-CEOs