WILMINGTON, Del., April 13, 2016 /PRNewswire/ -- The Chemours Company ("Chemours") (NYSE: CC), a global chemistry company with leading market positions in titanium technologies, fluoroproducts and chemical solutions, announced today that it has commenced a registered exchange offer (the "Exchange Offer") to exchange any and all of its $1,350 million aggregate principal amount of 6.625% Senior Notes due 2023, $750 million aggregate principal amount of 7.000% Senior Notes due 2025 and €360 million aggregate principal amount of 6.125% Senior Notes due 2023 which were issued in a private placement on May 12, 2015 (the "Original Notes") for an equal principal amount of its 6.625% Senior Notes due 2023, $750 million aggregate principal amount of 7.000% Senior Notes due 2025 and €360 million aggregate principal amount of 6.125% Senior Notes due 2023 (the "Exchange Notes") which have been registered under the Securities Act of 1933, as amended (the "Securities Act").
The Exchange Notes are substantially identical to the Original Notes, except that the Exchange Notes have been registered under the Securities Act and will not bear any legend restricting their transfer. The Exchange Notes will be issued only upon cancellation of a like amount of currently outstanding Original Notes. Chemours will not receive any proceeds from the Exchange Offer.
Chemours is making the Exchange Offer to satisfy its obligations under a registration rights agreement entered into when it issued the Original Notes. Any Original Notes not tendered for exchange in the Exchange Offer will remain outstanding and continue to accrue interest, and Chemours will have no further obligation to provide for the registration of such notes under the Securities Act, except under certain limited circumstances.
The Exchange Offer will expire at 11:59 p.m., New York City time, on May 13, 2016, unless extended by Chemours. Tenders of Original Notes must be validly made at or prior to the expiration time and may be withdrawn at any time prior to the expiration time.
The terms of the Exchange Offer are set forth in a prospectus dated April 13, 2016 (the "Prospectus") and the related letter of transmittal. U.S. Bank National Association has been appointed as the exchange agent for all Outstanding Notes denominated in U.S. dollars and Elavon Financial Services Limited has been appointed as the exchange agent for all Outstanding Notes denominated in euros. Requests for assistance or for copies of documents related to the exchange of Outstanding Notes denominated in U.S. dollars, including the Prospectus and the related letter of transmittal, should be directed to the exchange agent, U.S. Bank National Association, at (800) 934-6802. Requests for assistance or for copies of documents related to the exchange of Outstanding Notes denominated in euros, including the Prospectus and the related letter of transmittal, should be directed to the exchange agent, Elavon Financial Services Limited, at +44 207 330 2194.
This press release is not an offer to buy or sell or the solicitation of an offer to buy or sell any of the securities described herein, nor shall there be any offer, solicitation or sale of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. A registration statement on Form S-4 relating to the Exchange Offer was declared effective by the Securities and Exchange Commission on April 12, 2016. The Exchange Offer is being made only pursuant to the Exchange Offer documents that are being distributed to holders of the Original Notes, including the Prospectus and the related letter of transmittal, and only to such persons and in such jurisdictions as is permitted under applicable law.
About The Chemours Company
The Chemours Company (NYSE: CC) helps create a colorful, capable and cleaner world through the power of chemistry. Chemours 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 oil refining operations and general industrial manufacturing. Our flagship products include prominent brands such as Teflon™, Ti-Pure™, Krytox™, Viton™, Opteon™ and Nafion™. Chemours has approximately 8,100 employees across 35 manufacturing sites serving more than 5,000 customers in North America, Latin America, Asia-Pacific and Europe. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC. For more information please visit chemours.com.
This press release contains forward-looking statements, which often may be identified by their use of words like "plans," "expects," "will," "believes," "intends," "estimates," "anticipates" or other words of similar meaning. These forward-looking statements address, among other things, our anticipated future operating and financial performance, business plans and prospects, transformation plans, resolution of environmental liabilities, litigation and other contingencies, plans to increase profitability, our ability to pay or the amount of any dividend, and target leverage that 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 not guarantees of future performance and are based on certain assumptions and expectations of future events which may not be realized. The matters discussed in these forward-looking statements also are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements, as further described in the registration statement on Form S-4 related to the Exchange Offer, as filed with the Securities and Exchange Commission. Chemours undertakes no duty to update any forward-looking statements.
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SOURCE The Chemours Company