The Chemours Company (NYSE: CC) has just announced the completion of its private offering of $600,000,000 in aggregate principal amount of 8.000% senior unsecured notes due 2033. These notes are the company's senior unsecured obligations and are guaranteed by certain subsidiaries.
The net proceeds from this offering are intended to be used for specific purposes. Firstly, the company plans to redeem all of its outstanding euro-denominated 4.000% senior notes due 2026, which is expected to be €440,810,000, plus accrued and unpaid interest. The remainder of the net proceeds will be allocated towards general corporate purposes.
It is interesting to note that the notes and related guarantees have not been registered under the securities act and other state securities laws. The offering was made to qualified institutional buyers and non-U.S. persons in accordance with regulations.
The Chemours Company, listed on the NYSE under the symbol CC, is a global provider of industrial and specialty chemicals products serving various markets. With approximately 6,100 employees, 28 manufacturing sites, and serving around 2,700 customers in roughly 110 countries, the company operates through its three businesses – Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials. Today the company's shares have moved -0.1% to a price of $21.8. Check out the company's full 8-K submission here.
