WILMINGTON, Del., May 22, 2018 /PRNewswire/ -- The Chemours Company ("Chemours") (NYSE: CC), a global chemistry company with leading market positions in fluoroproducts, chemical solutions and titanium technologies, today announced the pricing of the previously announced registered underwritten public offering of €450 million in aggregate principal amount of 4.000% Senior Notes due 2026 at a public offering price of 100.000% of the principal amount. The offering is expected to close on or about June 6, 2018, subject to customary closing conditions.
The net proceeds of the offering, together with cash on hand, are expected to be used (i) to fund the purchase price and accrued and unpaid interest for up to $250 million of Chemours' outstanding 6.625% senior notes due 2023 (the "existing 2023 dollar notes") and any and all of Chemours' outstanding 6.125% senior notes due 2023 (the "existing 2023 euro notes" and, together with the existing 2023 dollar notes, the "existing 2023 notes") validly tendered and accepted for payment pursuant to Chemours' previously announced cash tender offers for up to $250 million of the existing 2023 dollar notes and any and all existing 2023 euro notes (the "Tender Offers"), (ii) to the extent applicable, to fund the redemption price and accrued and unpaid interest for any existing 2023 euro notes that remain outstanding after the completion or termination of the Tender Offers, and (iii) the remaining net proceeds, if any, for general corporate purposes.
Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Barclays Capital Inc., Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc., RBC Capital Markets, LLC, BofA Merrill Lynch and Deutsche Bank Securities Inc. are acting as joint book running managers for the offering. The public offering is being made by means of a prospectus supplement. Chemours has filed a shelf registration statement (including a prospectus) with the Securities and Exchange Commission (the "SEC") for the offering to which this communication relates.
You may review these documents for free by visiting EDGAR on the SEC's website, at www.sec.gov. Alternatively, these documents may be obtained from Citigroup Global Markets Inc. by calling toll-free at 1-800-831-9146; from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by calling (866) 803-9204; from Barclays Capital Inc., Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, email: [email protected], or by calling toll free: 1-888-603-5847; from Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, New York 10010, telephone: 1-800-221-1037, or email: [email protected]; from HSBC Securities (USA) Inc. by calling toll-free at 866-811-8049; from RBC Capital Markets, LLC, 200 Vesey Street, 8th Floor New York, New York 10281, Attention: Leveraged Capital Markets; or by telephone at 1-877-280-1299; from BofA Merrill Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, or e-mail [email protected]; or from Deutsche Bank Securities Inc., 60 Wall Street, New York, New York 10005, telephone: 1-800-503-4611, or email: [email protected].
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Such an offer can only be made by delivery of a prospectus and prospectus supplement, if applicable, that have been filed with the SEC. This press release is not an offer to purchase or the solicitation of an offer to sell any of the existing 2023 notes. The Tender Offers referenced herein are being made only by and pursuant to the terms of the applicable Offer to Purchase and Consent Solicitation Statement, with respect to the existing 2023 dollar notes, and a related Letter of Transmittal and Consent. The statements in this press release with respect to the redemptions of the existing 2023 notes do not constitute notices of redemption under the indentures governing the existing 2023 notes. Any such notices have or will be sent to holders of existing 2023 notes only in accordance with the provisions of such indentures.
About The Chemours Company
The Chemours Company (NYSE: CC) helps create a colorful, capable and cleaner world through the power of chemistry. Chemours is a global leader in fluoroproducts, chemical solutions and titanium technologies, providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. Chemours ingredients are found in plastics and coatings, refrigeration and air conditioning, mining and general industrial manufacturing, and electronics. Our flagship products include prominent brands such as Teflon™, Ti-Pure™, Krytox™, Viton™, Opteon™, Freon™ and Nafion™. Chemours has approximately 7,000 employees and 26 manufacturing sites serving approximately 4,000 customers in North America, Latin America, Asia-Pacific and Europe.
Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC. For more information please visit chemours.com.
This press release contains forward-looking statements, within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to a historical or current fact. The words "believe," "expect," "will," "anticipate," "plan," "estimate," "target," "project" and similar expressions, among others, generally identify "forward-looking statements," which speak only as of the date such statements were made. These forward-looking statements may address, among other things, the outcome or resolution of any pending or future environmental liabilities, the commencement, outcome or resolution of any regulatory inquiry, investigation or proceeding, the initiation, outcome or settlement of any litigation, changes in environmental regulations in the U.S. or other jurisdictions that affect demand for or adoption of our products, anticipated future operating and financial performance, business plans and prospects, capital investments and projects, plans for dividends or share repurchases, sufficiency or longevity of intellectual property protection, cost savings targets, plans to increase profitability and growth, our ability to make acquisitions, integrate acquired businesses or assets into our operations, and achieve anticipated synergies or cost savings, and our outlook for net sales, Adjusted EBITDA, Adjusted EPS, Free Cash Flow, and Return on Invested Capital, all of which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements are based on certain assumptions and expectations of future events that may not be accurate or realized. These statements, as well as our historical performance, are not guarantees of future performance. Forward-looking statements also involve risks and uncertainties that are beyond Chemours' control. Additionally, there may be other risks and uncertainties that Chemours is unable to identify at this time or that Chemours does not currently expect to have a material impact on its business. Factors that could cause or contribute to these differences include, but are not limited to: the terms and timing of the offering, the Tender Offers and any redemptions of the existing 2023 notes; and the risks, uncertainties and other factors discussed in our filings with the U.S. Securities and Exchange Commission, including in our Annual Report on Form 10-K for the year ended December 31, 2017 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2018. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.
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SOURCE The Chemours Company