debt
confidence high
sentiment neutral
materiality 0.55
Chemours closes $600M 8% senior notes due 2033, to redeem €441M 4% notes due 2026
Chemours Co
- Issued $600M aggregate principal of 8.000% Senior Notes due January 15, 2033 in a private offering.
- Net proceeds to redeem all outstanding €440.81M of 4.000% Senior Notes due 2026 plus accrued interest.
- Notes are senior unsecured obligations guaranteed by certain subsidiaries; interest payable semi-annually on Jan 15 and Jul 15 starting Jul 15, 2025.
- Redemption prior to Jan 15, 2028 at make-whole premium; up to 40% redeemable at 108% with equity offering proceeds.
- Change of control puts at 101% plus accrued interest; customary negative covenants and event of default provisions.