Celanese Completes Senior Unsecured Notes Offering
Celanese Corporation (NYSE: CE) has completed a registered offering of $400 million in 1.400% Senior Notes due 2026. With a net borrowing rate of 1.421%, the proceeds will be used to repay existing debt under its revolving credit facility.
All $400 million outstanding was previously used to pay off 5.875% senior notes at maturity. CFO Scott Richardson highlighted that this transaction will extend the debt maturity profile and lower interest expenses, backed by a strengthened credit rating and outlook.
- Completion of $400 million Senior Notes offering enhances liquidity.
- Net borrowing rate of 1.421% is lower than previous debt.
- Transaction extends debt maturity profile, reducing future interest expenses.
- Strengthened credit rating improves borrowing conditions.
- None.
Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today announced that its subsidiary, Celanese US Holdings LLC, has completed a registered offering of
The net borrowing rate to the company will be
“This deal is another transaction that will extend our debt maturity profile and reduce our interest expense. The continued strength of our business performance is reflected in a recently improved credit rating and outlook, allowing us to extend our debt maturities at lower borrowing costs,” said Scott Richardson, Executive Vice President and Chief Financial Officer.
About Celanese
Celanese Corporation is a global chemical leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our businesses use the full breadth of Celanese's global chemistry, technology and commercial expertise to create value for our customers, employees, shareholders and the corporation. As we partner with our customers to solve their most critical business needs, we strive to make a positive impact on our communities and the world through The Celanese Foundation.
Forward-Looking Statements: This release may contain “forward-looking statements,” which include information concerning the use of net proceeds from the offering and other information that is not historical information. When used in this release, the words “outlook,” “forecast,” “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the Company will realize these expectations or that these beliefs will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the results expressed or implied by the forward-looking statements contained in this release. Numerous other factors, many of which are beyond the Company’s control, could cause actual results to differ materially from those expressed as forward-looking statements. Other risk factors include those that are discussed in the Company’s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210805005806/en/
FAQ
What is the purpose of Celanese's recent $400 million offering of Senior Notes?
What is the interest rate on Celanese's new Senior Notes?
When do Celanese's Senior Notes mature?
How will the offering affect Celanese's interest expenses?
What was the previous interest rate of Celanese's repaid senior notes?
