DALLAS (Friday, September 10, 2021) – Celanese Corporation (NYSE: CE), a global chemical and specialty materials company (“Celanese”), today announced that its subsidiary, Celanese US Holdings LLC (the “Company”), has completed a registered offering (the “Offering”) of €500 million of 0.625% Senior Notes due 2028 (the “Notes”). The Notes are guaranteed on a senior unsecured basis by the Company and certain Celanese domestic subsidiaries, similar to prior issuances.
The completion of the Offering satisfies the financing condition related to the previously announced tender offer (the “Tender Offer”) to purchase for cash up to €300 million aggregate principal amount of the Company’s 1.125% Senior Notes due 2023 (the “Tender Offer Notes”).
The net proceeds from the issuance of the Notes will be used to fund the Tender Offer and for general corporate purposes. The Company may temporarily invest funds that are not immediately needed for these purposes in short-term investments, including marketable securities.
“This offering and the tender are additional transactions to spread out our debt maturities and reduce our interest expense. As we have said previously, the continued strength of our business performance is reflected in a recently improved credit rating and outlook, which allows us to extend our debt maturities at lower borrowing costs,” said Scott Richardson, Executive Vice President and Chief Financial Officer.
