Chemours Announces Price of $ 650 Million Aggregate Private Placement of 4.625% Senior Unsecured Notes Due 2029
WILMINGTON, Del., August 4, 2021 / PRNewswire / – The Chemours Company (“Chemours”) (NYSE: CC), a global chemicals company with market-leading positions in titanium technologies, thermal and specialty solutions, advanced performance materials and chemical solutions, today announced the price of the previously announced private offering of $ 650 million in the aggregate principal amount of 4.625% senior unsecured notes due 2029, which are exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The offer should close on or around August 18, 2021, subject to customary closing conditions. The Notes will be senior unsecured obligations of Chemours and will be guaranteed by certain of its subsidiaries.
The net proceeds of the offering are expected to be used, together with available cash, (i) to fund the purchase price and accrued and unpaid interest for all outstanding 7,000% senior notes of Chemours due 2025 (the “Existing 2025 Notes”) validly deposited and accepted for payment in accordance with the cash tender offer previously announced by Chemours for all or part of the existing 2025 Notes (the “Takeover Offer”) and (ii) to the extent applicable, to fund the repurchase price and unpaid interest and interest for all existing 2025 Notes which remain in circulation after the completion or termination of the tender offer.
The Notes and related collateral have not been and will not be registered under the Securities Act or any state securities law, and unless so registered, they are cannot be offered or sold in United States in the absence of registration or an applicable exemption or in connection with a transaction not subject to the registration requirements of the Securities Act and other applicable securities laws. The Notes are only offered to persons reasonably suspected of being Qualified Institutional Purchasers in accordance with Rule 144A of the Securities Act and to non-US persons in accordance with Regulation S of the Securities Act.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, and there will be no sale of such securities in any state or jurisdiction in which such an offer, solicitation or sale would be illegal before registration. or qualification under the securities laws of any such state or jurisdiction. This press release is not an offer to buy or the solicitation of an offer to sell the existing 2025 Notes. The take-over bid referred to herein is being made only by and in accordance with the terms of the applicable tender offer and solicitation of consent statement. Statements in this press release regarding the redemption of the Existing 2025 Notes do not constitute notice of redemption under the Act governing the Existing 2025 Notes. Such notice has been or will be sent to holders of Existing 2025 Notes only in accordance with the provisions of this Indenture.
About the company Chemours
The Chemours Company (NYSE: CC) is a global leader in titanium technologies, thermal and specialty solutions, advanced performance materials and chemical solutions, providing customers with solutions across a wide range of industries with products, application expertise and market-defining chemistry. -based innovations. Chemours provides custom solutions with a wide range of industrial and specialty chemicals for markets including coatings, plastics, refrigeration and air conditioning, transportation, semiconductors and consumer electronics, industrial general, mining, oil and gas. Our flagship products include leading brands such as Ti-Pure ™, Opteon ™, Freon ™, Teflon ™, Viton ™, Nafion ™ and Krytox ™. In 2019, Chemours was named to Newsweek’s list of America’s Most Responsible Companies. Chemours has approximately 6,500 employees and 30 manufacturing sites serving approximately 3,300 customers in approximately 120 countries. Chemours is headquartered at Wilmington, Delaware and is listed on the NYSE under the symbol CC.
For more information, we invite you to visit chemours.com or follow us on Twitter @Chemours or LinkedIn.
This press release contains forward-looking statements, within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995, that involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not relate directly to 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 only speaks on the date on which these statements were made. These forward-looking statements may address, among other things, the outcome or resolution of any pending or future environmental liability, the commencement, outcome or resolution of any investigation, investigation or regulatory proceeding, the initiation, outcome or settlement. of any litigation, in environmental regulations in the United States or in other jurisdictions that affect demand or adoption of our products, expected future operational and financial performance for our segments individually and our company as a whole, plans business prospects, objectives, objectives and commitments, capital investments and target projects and capital expenditures, dividend or share buyback plans, adequacy or longevity of intellectual property protection, objectives cost reduction or savings, plans to increase profitability and growth, our ability to make acquisitions. ons, to integrate the businesses or assets acquired into our operations, and to achieve the expected synergies or cost savings, which are subject to substantial risks and uncertainties which could cause actual results to differ materially from those expressed or under- heard by these statements. Forward-looking statements are based on certain assumptions and expectations of future events which may not be accurate or realized. These statements are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties which are beyond Chemours’ control. In addition, the current COVID-19 pandemic has had a significant impact on the domestic and global economy as well as on commodity and financial markets, which has had and is expected to continue to negatively impact our results. financial. The full extent and impact of the pandemic is unknown and to date have included extreme volatility in financial and commodity markets, a significant slowdown in economic activity and heightened forecasts of a global recession. The public and private sector response has resulted in significant travel restrictions, temporary business closures, quarantines, stock market volatility, and a general reduction in consumer and business activity globally. Matters beyond our control have affected our business and operations and may continue to limit employee travel to our business units nationally and internationally, negatively affect the health and well-being of our staff, dramatically reduce demand for our products, hamper our ability to provide goods and services to customers, cause disruptions in our supply chains, harm our business partners or cause other unforeseeable events. In addition, there may be other risks and uncertainties that Chemours is not able 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, but are not limited to: the terms and timing of the offer, the tender offer and any redemption of the existing 2025 bonds; and the risks, uncertainties and other factors discussed in our filings with the United States Securities and Exchange Commission, including in our quarterly reports on Form 10-Q for the quarters ended March 31, 2021 and June 30, 2021 and our annual report on Form 10-K for the fiscal year ended December 31, 2020. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.
Vice-President, Corporate Development and Investor Relations
Press Relations and Financial Communication Manager
SOURCE The Chemours Company