Chemours Co (CC): debt financing — Chemours completes $2.97B credit amendment with $900M revolver, $1.07B and €415M term loans

Chemours Co

Refinances existing term loans via $1.07B Tranche B-3 US$ Term Loan (SOFR+3.5%, floor 0.5%) and €415M Tranche B-3 Euro Term Loan (EURIBOR+4%, floor 0%).
New $900M revolving credit facility matures Oct 7, 2026; term loans mature Aug 18, 2028.
Proceeds used to refinance existing facilities (including cashless conversion), pay fees, and for working capital.
Covenants amended for increased flexibility; obligations secured by first-priority liens on assets of Chemours and domestic subsidiaries.
Senior secured facilities guaranteed by material domestic subsidiaries with 100% of domestic and 65% of foreign subsidiary stock pledged.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Chemours Co incurred term loan of €415,000,000 with JPMorgan Chase Bank, N.A., as administrative agent at adjusted EURIBOR plus 4.00%, subject to an adjusted EURIBOR floor of 0.0% maturing August 18, 2028.

Instrument: term loan
Principal: €415,000,000
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Rate: adjusted EURIBOR plus 4.00%, subject to an adjusted EURIBOR floor of 0.0%
Maturity: August 18, 2028
Event: incurrence

Exact text from the filing

principal amount equal to $1,070,000,000 (the “Term Loan B-3 US$ Facility”), and a five-year senior secured term loan facility in an aggregate principal amount equal to €415,000,000 (the “Term Loan B-3 Euro Facility”). The Term Loan B-3 US$ Facility and the Term Loan B-3 Euro Facility are referred to collectively as the “New Term Loan Facilities.” The Tranche

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Chemours Co incurred term loan of $1,070,000,000 with JPMorgan Chase Bank, N.A., as administrative agent at adjusted Term SOFR plus 3.50%, subject to an adjusted SOFR floor of 0.50%, or ad maturing August 18, 2028.

Instrument: term loan
Principal: $1,070,000,000
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Rate: adjusted Term SOFR plus 3.50%, subject to an adjusted SOFR floor of 0.50%, or ad
Maturity: August 18, 2028
Event: incurrence

Exact text from the filing

commitments in an amount equal to $900,000,000 (the “Revolving Credit Facility”), a five-year, senior secured term loan facility in an aggregate principal amount equal to $1,070,000,000 (the “Term Loan B-3 US$ Facility”), and a five-year senior secured term loan facility in an aggregate principal amount equal to €415,000,000 (the “Term Loan B-3 Euro Facility”).

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Chemours Co incurred revolving credit of $900,000,000 with JPMorgan Chase Bank, N.A., as administrative agent maturing October 7, 2026.

Instrument: revolving credit
Principal: $900,000,000
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Maturity: October 7, 2026
Event: incurrence

Exact text from the filing

The Restatement Agreement provides for a senior secured revolving credit facility with aggregate commitments in an amount equal to $900,000,000 (the “Revolving Credit Facility”)

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Chemours Co entered into Amendment and Restatement Agreement with JPMorgan Chase Bank, N.A. valued at $900,000,000, $1,070,000,000, €415,000,000 (effective 2023-08-18).

Action: entry
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A.
Value: $900,000,000, $1,070,000,000, €415,000,000
Effective: 2023-08-18

Exact text from the filing

On August 18, 2023, The Chemours Company (the “Company”) entered into an Amendment and Restatement Agreement (the “Restatement Agreement”) among the Company, the lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent, which amends and restates in its entirety the Amended and Restated Credit Agreement, dated as of April 3, 2018

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8 debt financings filed in the last 30 days. Browse all debt financings →

Chemours Co filing history →

Source: SEC EDGAR

accession 0000950170-23-044181

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