Celanese Corporation (NYSE: CE) has announced cash tender offers for up to €500 million aggregate principal amount of 4.777% senior notes due 2026 and $250 million aggregate principal amount of 6.415% senior notes due 2027. The tender offers are being made upon the terms and subject to the conditions set forth in the offer to purchase dated March 5, 2025.
As of the date of the offer to purchase, the interest rate payable on the USD notes has increased by 0.250% from the original stated coupon of 6.165%. The company expects the early settlement date for the tender offers to be March 21, 2025, and the final settlement date to be April 4, 2025.
The tender offers will expire at 5:00 p.m., New York City time, on April 2, 2025, unless extended or earlier terminated. Holders must validly tender and not validly withdraw their notes prior to 5:00 p.m., New York City time, on March 18, 2025, unless extended, to be eligible to receive the applicable total consideration, which already includes an amount in cash equal to the early tender payment, plus accrued and unpaid interest.
The offeror has retained J.P. Morgan Securities Plc as lead dealer manager for the EUR notes and J.P. Morgan Securities LLC as lead dealer manager for the USD notes, with BofA Securities and HSBC Securities (USA) Inc. as co-dealer managers for the tender offers.
Holders are advised to check with any bank, securities broker, or other intermediary through which they hold their notes as to when such intermediary needs to receive instructions from a holder in order to participate in the tender offers before the deadlines specified in the offer to purchase.
This announcement is neither an offer to purchase nor a solic Today the company's shares have moved 11.6% to a price of $53.78. Check out the company's full 8-K submission here.
