The Chemours Company (NYSE: CC) has successfully completed a private offering of $600 million in aggregate principal amount of 8.000% senior unsecured notes due 2033. The net proceeds from this offering are anticipated to be used for the redemption of all of the company’s outstanding euro-denominated 4.000% senior notes due 2026, along with accrued and unpaid interest, with the remaining funds allocated for general corporate purposes.
This private offering, which was exempt from the registration requirements of the Securities Act of 1933, involved the sale of notes that are Chemours’ senior unsecured obligations and are guaranteed by certain subsidiaries. The notes and related guarantees have not been registered under the Securities Act or any state securities laws and were offered only to qualified institutional buyers and non-U.S. persons.
Chemours, a global leader in providing industrial and specialty chemicals products, operates through three business segments: Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials. The company's products are sold under well-known brands such as Opteon™, Freon™, Ti-Pure™, Nafion™, Teflon™, Viton™, and Krytox™. With approximately 6,100 employees and 28 manufacturing sites, Chemours serves about 2,700 customers in roughly 110 countries. As a result of these announcements, the company's shares have moved -0.5% on the market, and are now trading at a price of $21.82. For the full picture, make sure to review Chemours's 8-K report.
