The Chemours Company Announces Private Offering of $600,000,000 of Senior Notes Due 2033

Rhea-AI Summary

Chemours (NYSE: CC) has announced plans to offer $600 million in senior notes due 2033. The notes will be senior unsecured obligations guaranteed by certain subsidiaries. The company plans to use the proceeds to redeem all outstanding euro-denominated 4.000% senior notes due 2026, with the remainder allocated for general corporate purposes. The offering is exclusively available to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act.

Positive

• Refinancing of existing debt with potential for improved terms
• Strategic debt management through redemption of euro-denominated notes

Negative

• Increase in long-term debt obligations
• Additional interest payment obligations through 2033

Insights

Financial Analyst

This $600 million senior notes offering represents a significant debt refinancing move by Chemours. The company is strategically replacing its euro-denominated debt with dollar-denominated notes, which could help reduce foreign exchange risk exposure given the current market conditions. The extended maturity to 2033 provides improved debt structure flexibility.

The refinancing of the 4.000% euro notes indicates potential cost optimization, though the new interest rate remains undisclosed. This private placement to qualified institutional buyers suggests strong institutional interest in Chemours' debt, despite recent market volatility. With a market cap of $2.95 billion, this debt offering represents approximately 20% of the company's market value, making it a substantial financing event.

WILMINGTON, Del.--(BUSINESS WIRE)-- The Chemours Company (Chemours) (NYSE: CC) today announced that it intends to offer $600,000,000 aggregate principal amount of new senior notes due 2033 (the “Notes”), subject to market and other conditions. The Notes will be senior unsecured obligations of Chemours and will be guaranteed by certain of its subsidiaries. Chemours intends to use the net proceeds from the offering to redeem all of its outstanding euro-denominated 4.000% senior notes due 2026 and the remainder of the net proceeds for general corporate purposes.

The Notes and related guarantees are being offered only to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), or outside the United States to non-U.S. persons in compliance with Regulation S under the Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes and related guarantees. Any offers of the Notes and related guarantees are being made only by means of a private offering memorandum.

The Notes and related guarantees have not been registered under the Securities Act, or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements.

About The Chemours Company

The Chemours Company (NYSE: CC) is a global leader in providing industrial and specialty chemicals products for markets, including coatings, plastics, refrigeration and air conditioning, transportation, semiconductor and advanced electronics, general industrial, and oil and gas. Through our three businesses – Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials – we deliver application expertise and chemistry-based innovations that solve customers’ biggest challenges. Our flagship products are sold under prominent brands such as Opteon™, Freon™, Ti-Pure™, Nafion™, Teflon™, Viton™, and Krytox™. Headquartered in Wilmington, Delaware and listed on the NYSE under the symbol CC, Chemours has approximately 6,100 employees and 28 manufacturing sites and serves approximately 2,700 customers in approximately 110 countries.

For more information, we invite you to visit chemours.com or follow us on X (formerly Twitter) @Chemours or LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, 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 address, among other things, the offering of Notes and Chemours’ intended use of the net proceeds therefrom, which are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to, the ability of Chemours to complete the offering on favorable terms, if at all, and general market conditions which might affect the offering. Forward-looking statements are based on certain assumptions and expectations of future events that may not be accurate or realized. Forward-looking statements also involve risks and uncertainties, many of which 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 whether the offering of Notes is completed and other risks, uncertainties and other factors discussed in Chemours’ filings with the U.S. Securities and Exchange Commission, including in Chemours’ Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, and in Chemours’ Annual Report on Form 10-K for the year ended December 31, 2023. Chemours assumes no obligation to revise or update any forward-looking statement for any reason, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241112197049/en/

INVESTORS

Brandon Ontjes

Vice President, Investor Relations

+1.302.773.3300

investor@chemours.com

Kurt Bonner

Manager, Investor Relations

+1.302.773.0026

investor@chemours.com

NEWS MEDIA

Cassie Olszewski

Media Relations & Reputation Leader

+1.302.219.7140

media@chemours.com

Source: The Chemours Company

FAQ

What is the size of Chemours (CC) new senior notes offering in 2033?

Chemours (CC) announced a $600 million aggregate principal amount of senior notes due 2033.

How will Chemours (CC) use the proceeds from the 2033 senior notes?

Chemours will use the proceeds to redeem all outstanding euro-denominated 4.000% senior notes due 2026 and the remainder for general corporate purposes.

Who can purchase Chemours (CC) 2033 senior notes?

The notes are only available to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S of the Securities Act.

Are Chemours (CC) 2033 senior notes registered under the Securities Act?

No, the notes have not been registered under the Securities Act or securities laws of any other jurisdiction.