Chemours Plans $600M 2034 Senior Notes to Redeem 2027 and 2028 Debt
Chemours intends to offer $600 million of senior unsecured notes due 2034, guaranteed by a subsidiary and sold to qualified institutional buyers. Net proceeds will fund redemption of its outstanding 5.375% notes due 2027 and repurchase of a portion of its 5.750% notes due 2028.
1. Offering Details
Chemours intends to issue $600 million aggregate principal of senior unsecured notes due 2034, guaranteed by a subsidiary. The private offering will be made to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S, subject to market conditions and other customary closing requirements.
2. Use of Proceeds
Net proceeds from the offering will fund the redemption of Chemours’ outstanding 5.375% senior notes due 2027 and the redemption or repurchase of a portion of its 5.750% senior notes due 2028, extending the company’s debt maturities and potentially reducing interest costs.
3. Terms and Conditions
The notes and guarantees will not be registered under the Securities Act and will be offered only by means of a private offering memorandum. Sales in the U.S. will require a registration or an applicable exemption, and the offering is contingent on market conditions and other factors.