DALLAS--(BUSINESS WIRE)--Celanese Corporation (NYSE:CE), a global technology and specialty materials company, today announced that its wholly-owned subsidiary, Celanese US Holdings LLC (the "Issuer"), intends to offer €300 million aggregate principal amount of senior notes due 2019 (the "Notes"). The Notes will be senior unsecured obligations of the Issuer and will be guaranteed by the company and certain of the Issuer’s U.S. subsidiaries.
The company intends to use the net proceeds from the offering, together with cash on hand, to redeem the Issuer’s $600 million aggregate principal outstanding of its 6.625% Senior Notes due 2018.
Concurrent with this offering, the company intends to amend and restate its existing senior credit facility, which is expected to include increasing the size of the revolver, extending the maturity date of the revolver and extending the maturity date of all or a portion of the term loan facilities.
Deutsche Bank AG, London Branch, BofA Merrill Lynch, Citigroup Global Markets Limited, HSBC Bank plc, J.P. Morgan Securities plc, and The Royal Bank of Scotland plc are acting as joint book-running managers for the Notes offering, with certain other banks acting as co-managers.
The Issuer has filed a registration statement, including a prospectus, with the Securities and Exchange Commission (the “SEC”) for the Notes being offered. Before investing, the prospectus in that registration statement and the related prospectus supplement and other documents the Issuer will file with the SEC should be read for more complete information about the Issuer and the Notes being offered.
These documents may be obtained for free by visiting EDGAR on the SEC website at http://www.sec.gov. Alternatively, these documents can be obtained from the Issuer, any underwriter or any dealer participating in the Notes offering, by contacting: Deutsche Bank AG, London Branch, Winchester House, 1 Great Winchester Street, London EC2N 2DB, Telephone: 1-800-503-4611; BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attention: Prospectus Department, Email: firstname.lastname@example.org; Citigroup Global Markets Limited, Citigroup Centre, Canada Square, Canary Wharf E14 5LB, United Kingdom, Attention: Syndicate Desk, Telephone: +44-0-207-986-9000, Email: email@example.com; HSBC Bank plc, 8 Canada Square, Canary Wharf, London E14 5HQ, Telephone: +44 (0)207 991 8888; J.P. Morgan Securities plc, 25 Bank Street, Canary Wharf, Floor 04, London, E14 5JP, United Kingdom, Attention: High Yield Syndicate, Telephone: +44-207-779-2468; or The Royal Bank of Scotland plc, 135 Bishopsgate, London EC2M 3UR, Telephone: +44-207-085-4768.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall there be any sale of the Notes in any state or country in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or country. This press release should not be construed as a notice of redemption, offer or solicitation with respect to the 6.625% Senior Notes due 2018.
Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. With sales almost equally divided between North America, Europe and Asia, the company uses the full breadth of its global chemistry, technology and business expertise to create value for customers and the corporation. Celanese partners with customers to solve their most critical needs while making a positive impact on its communities and the world. Based in Dallas, Texas, Celanese employs approximately 7,400 employees worldwide and had 2013 net sales of $6.5 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com or our blog at www.celaneseblog.com.
This release may contain “forward-looking statements,” which include information concerning the company's plans, objectives, goals, strategies, future revenues or performance, capital expenditures, financing needs and other information that is not historical information. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the company will realize these expectations or that these beliefs will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the results expressed or implied in the forward-looking statements contained in this release. These risks and uncertainties include, among other things: changes in general economic, business, political and regulatory conditions in the countries or regions in which we operate; the length and depth of product and industry business cycles, particularly in the automotive, electrical, textiles, electronics and construction industries; changes in the price and availability of raw materials, particularly changes in the demand for, supply of, and market prices of ethylene, methanol, natural gas, wood pulp and fuel oil and the prices for electricity and other energy sources; the ability to pass increases in raw material prices on to customers or otherwise improve margins through price increases; the ability to maintain plant utilization rates and to implement planned capacity additions and expansions; the ability to reduce or maintain their current levels of production costs and to improve productivity by implementing technological improvements to existing plants; increased price competition and the introduction of competing products by other companies; market acceptance of our technology; the ability to obtain governmental approvals and to construct facilities on terms and schedules acceptable to the company; changes in the degree of intellectual property and other legal protection afforded to our products or technologies, or the theft of such intellectual property; compliance and other costs and potential disruption or interruption of production or operations due to accidents, interruptions in sources of raw materials, cyber security incidents, terrorism or political unrest or other unforeseen events or delays in construction or operation of facilities, including as a result of geopolitical conditions, the occurrence of acts of war or terrorist incidents or as a result of weather or natural disasters; potential liability for remedial actions and increased costs under existing or future environmental regulations, including those relating to climate change; potential liability resulting from pending or future litigation, or from changes in the laws, regulations or policies of governments or other governmental activities in the countries in which we operate; changes in currency exchange rates and interest rates; our level of indebtedness, which could diminish our ability to raise additional capital to fund operations or limit our ability to react to changes in the economy or the chemicals industry; and various other factors discussed from time to time in the company's filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.