DALLAS (Thursday, August 5, 2021) – Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today announced that its subsidiary, Celanese US Holdings LLC, has completed a registered offering of $400 million of U.S. dollar-denominated 1.400% Senior Notes due 2026 (the “Notes”).
The net borrowing rate to the company will be 1.421%. The net proceeds from the issuance of the Notes will be used to repay outstanding indebtedness under the company’s revolving credit facility, of which there is $400 million outstanding and all of which was used to repay the company’s 5.875% senior notes in full at their maturity on June 15, 2021. The Notes are guaranteed on a senior unsecured basis by the company and certain Celanese domestic subsidiaries, similar to prior issuances.
“This deal is another transaction that will extend our debt maturity profile and reduce our interest expense. The continued strength of our business performance is reflected in a recently improved credit rating and outlook, allowing us to extend our debt maturities at lower borrowing costs,” said Scott Richardson, Executive Vice President and Chief Financial Officer.