WILMINGTON, Del., Nov. 12, 2020 /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 private offering of $800 million in aggregate principal amount of
5.750% senior unsecured notes due 2028 that is exempt from the
registration requirements of the Securities Act of 1933, as amended
(the "Securities Act"). The offering is expected to close on
or about November 27, 2020, subject
to customary closing conditions. The notes will be Chemours' senior
unsecured obligations and will be guaranteed by certain of its
subsidiaries.
The net proceeds of the offering are expected to be used,
together with cash on hand, (i) to fund the purchase price and
accrued and unpaid interest for any and all of Chemours'
outstanding 6.625% senior notes due 2023 (the "existing 2023
notes") validly tendered and accepted for payment pursuant to
Chemours' previously announced cash tender offer for any and all of
the existing 2023 notes (the "Tender Offer") and (ii) to the extent
applicable, to fund the redemption price and accrued and unpaid
interest for any existing 2023 notes that remain outstanding after
the completion or termination of the Tender Offer.
The notes and the related guarantees have not been, and will not
be, registered under the Securities Act or any state securities
laws, and unless so registered, may not be offered or sold in
the United States absent
registration or an applicable exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act
and other applicable securities laws. The notes are being
offered only to persons reasonably believed to be qualified
institutional buyers pursuant to Rule 144A under the Securities Act
and to non-U.S. persons in accordance with Regulation S under the
Securities Act.
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. 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 Offer referenced herein is being
made only by and pursuant to the terms of the applicable Offer to
Purchase and Consent Solicitation Statement. The statements in this
press release with respect to the redemption of the existing 2023
notes do not constitute a notice of redemption under the indenture
governing the existing 2023 notes. Any such notice has or will be
sent to holders of existing 2023 notes only in accordance with the
provisions of such indenture.
About The Chemours Company
The Chemours Company
(NYSE: CC) is a global leader in Titanium Technologies,
Fluoroproducts, and Chemical Solutions, 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. Our flagship products include prominent
brands such as Teflon™, Ti-Pure™, Krytox™, Viton™, Opteon™, Freon™
and Nafion™. In 2019, Chemours was named to Newsweek's list of
America's Most Responsible Companies. The company has approximately
7,000 employees and 30 manufacturing sites serving approximately
3,700 customers in over 120 countries. Chemours is headquartered in
Wilmington, Delaware and is listed
on the NYSE under the symbol CC.
Forward-Looking Statements
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, prospects, targets, goals and commitments, capital
investments and projects, plans for dividends or share repurchases,
sufficiency or longevity of intellectual property protection, cost
reductions or 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, 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 are not guarantees of future performance.
Forward-looking statements also involve risks and uncertainties
that are beyond Chemours' control. In addition, the current
COVID-19 pandemic has significantly impacted the national and
global economy and commodity and financial markets. The full extent
and impact of the pandemic is unknown and to date has included
extreme volatility in financial and commodity markets, a
significant slowdown in economic activity, and increased
predictions of a global recession. The public and private sector
response has led to significant restrictions on travel, temporary
business closures, quarantines, stock market volatility, and a
general reduction in consumer and commercial activity globally.
Matters outside our control have affected our business and
operations and may or may continue to limit travel of employees to
our business units domestically and internationally, adversely
affect the health and welfare of our personnel, significantly
reduce the demand for our products, hinder our ability to provide
goods and services to customers, cause disruptions in our supply
chains, adversely affect our business partners or cause other
unpredictable events. 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 closing of the offering, the Tender Offer 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 Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2020, June 30,
2020 and September 30, 2020
and our Annual Report on Form 10-K for the year ended December 31, 2019. Chemours assumes no obligation
to revise or update any forward-looking statement for any reason,
except as required by law.
CONTACT
INVESTORS
Jonathan
Lock
VP, Corporate Development and Investor Relations
+1.302.773.2263
investor@chemours.com
MEDIA
Thomas Sueta
Director, Corporate Communications
+1.302.773.3903
media@chemours.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/chemours-announces-pricing-of-private-offering-of-800-million-aggregate-principal-amount-of-5-750-senior-unsecured-notes-due-2028--301172424.html
SOURCE The Chemours Company