Chemours to launch $960 million, €515 million term loans on Tuesday

By Sara Rosenberg

New York, July 31 – Chemours Co. will hold a lender call at 10 a.m. ET on Tuesday to launch a $960 million five-year term loan B and a €515 million five-year term loan B, according to a market source.

JPMorgan Chase Bank is the left lead arranger on the deal.

Price talk on the U.S. term loan is SOFR plus 325 basis points to 350 bps with a 0.5% floor and an original issue discount of 98.5, and talk on the euro term loan is Euribor plus 375 bps to 400 bps with a 0% floor and a discount of 98.5, the source said.

The term loans (BBB-) have 101 soft call protection for six months.

Commitments for the U.S. term loan are due at 5 p.m. ET on Aug. 9, and commitments for the euro term loan are due at noon ET on Aug. 9, the source added.

Proceeds will be used to refinance existing U.S. and euro term loans due 2025, to pre-fund a legal settlement and for general corporate purposes.

Chemours is a Wilmington, Del.-based provider of performance chemicals.

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