WILMINGTON, Del., May 12, 2015 /PRNewswire/ -- The Chemours
Company ("Chemours"), a wholly owned subsidiary of E. I. du Pont de
Nemours and Company ("DuPont"), announced today the completion of
certain financing transactions in connection with DuPont's
previously announced proposed pro rata distribution of Chemours
common stock to holders of DuPont common stock, subject to
customary closing conditions (the "Separation").
Chemours completed an offering of its $1,350 million 6.625 percent senior notes due
2023, $750 million 7.000 percent senior notes due 2025 and
€360 million 6.125 percent senior notes due 2023 (the "Notes").
Chemours also entered into a credit agreement with a
syndicate of banks providing for a seven-year $1.5 billion senior secured Term Loan B
Facility and a five-year $1.0 billion
senior secured Revolving Credit Facility. Chemours used the
proceeds from the financing transactions to fund a distribution to
DuPont of approximately $3.9 billion,
in recognition of the assets contributed to it by DuPont in
anticipation of the Separation.
"It is critical to get the backing from the debt capital markets
as we near the launch of The Chemours Company as an independent
company on July 1. We are pleased with the market reception
following our debt roadshows, which has been very favorable and
supportive of our strategic plans for Chemours," stated
Mark Vergnano, executive vice
president, DuPont and CEO Designate of Chemours.
The Notes have not been registered under the Securities Act
of 1933, as amended (the "Securities Act"), or any state securities
law, and may not be offered or sold in the United States absent registration or an
applicable exemption from registration under the Securities Act and
applicable state securities laws. The Notes were offered only
to persons reasonably believed to be qualified institutional buyers
under Rule 144A under the Securities Act and to non-U.S. persons in
compliance with Regulation S under the Securities Act. This
press release does not constitute an offer to sell any security and
shall not constitute an offer, solicitation or sale in any
jurisdiction in which such offer or sale would be unlawful.
About The Chemours Company
A wholly-owned subsidiary of DuPont, The Chemours Company is a
global leader in titanium technologies, fluoroproducts and chemical
solutions, providing its customers 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 oil refining operations and general industrial
manufacturing. Our flagship products include prominent brands
such as Teflon®, Ti-Pure®, Krytox®, Viton®, Opteon® and Nafion®.
Chemours has approximately 9,000 employees across 37 manufacturing
sites serving more than 5,000 customers in North America, Latin
America, Asia-Pacific and
Europe. Chemours is headquartered
in Wilmington, Del.
About DuPont
DuPont (NYSE: DD) has been bringing world-class science and
engineering to the global marketplace in the form of innovative
products, materials, and services since 1802. The company believes
that by collaborating with customers, governments, NGOs, and
thought leaders we can help find solutions to such global
challenges as providing enough healthy food for people everywhere,
decreasing dependence on fossil fuels, and protecting life and the
environment.
Forward-Looking Statements: This document contains
forward-looking statements which may be identified by their use of
words like "plans," "expects," "will," "believes," "intends,"
"estimates," "anticipates" or other words of similar meaning. All
statements that address expectations or projections about the
future, including statements about the timing of the Separation,
are forward looking statements. Forward-looking statements are not
guarantees of future performance and are based on certain
assumptions and expectations of future events which may not be
realized. Forward-looking statements also involve risks and
uncertainties. One important factor that could cause actual
results to differ materially from those projected in any such
forward looking statements risks that the conditions to the
Separation are not satisfied. Neither DuPont nor Chemours
undertakes any duty to update such forward-looking statements as a
result of future developments or new information.
The DuPont Oval Logo, DuPont™, Teflon®, Ti-Pure®, Krytox®,
Viton®, Opteon® and Nafion® are registered trademarks or trademarks
of DuPont or its affiliates.
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SOURCE DuPont