Kronos Worldwide, Inc. has announced the pricing of an additional €75 million of 9.50% senior secured notes due 2029, which will be issued as additional notes to the existing €351,174,000 aggregate principal amount of 9.50% senior secured notes due 2029. The notes were oversubscribed and priced at a premium of 105%, resulting in expected proceeds of approximately €78.8 million before fees and expenses, or approximately $91.9 million at current exchange rates.
The company intends to use the proceeds from the offering to pay amounts due under its 3.75% senior secured notes due September 15, 2025 at maturity, with any remaining net proceeds allocated for general corporate purposes. The closing of this offering is expected to occur on or about September 15, 2025.
Kronos Worldwide, Inc., a leading global producer and marketer of value-added titanium dioxide pigments, has developed considerable expertise and efficiency in the manufacture, sale, shipment, and service of its products in domestic and international markets. With approximately 3,000 customers in 100 countries, the majority of its sales are in Europe, North America, and the Asia Pacific region. Today the company's shares have moved -2.74% to a price of $6.03. For the full picture, make sure to review KRONOS WORLDWIDE INC's 8-K report.
