New Issue: Celanese sells $500 million 10-year bullets at par to yield 4 5/8%

By Paul A. Harris

Portland, Ore., Nov. 7 - Celanese US Holdings LLC priced a $500 million issue of non-callable 10-year senior notes (Ba2/BB/) at par to yield 4 5/8% on Wednesday, according to a syndicate source.

The yield printed on top of the yield talk.

Deutsche Bank Securities Inc., Bank of America Merrill Lynch, Citigroup Global Markets Inc., HSBC and J.P. Morgan Securities LLC were the joint bookrunners for the quick-to-market deal.

The Dallas-based global technology and specialty materials company plans to use the proceeds, together with cash on hand, to repay a portion of its existing senior secured credit facility and to make a contribution to the company's U.S. pension plan, which will reduce total pension obligations.

Issuer:	Celanese US Holdings LLC
Amount:	$500 million
Maturity:	Nov. 15, 2022
Securities:	Senior notes
Bookrunners:	Deutsche Bank Securities Inc., Bank of America Merrill Lynch, Citigroup Global Markets Inc., HSBC, J.P. Morgan Securities LLC
Co-managers:	Barclays, Commerz, Goldman Sachs & Co., Mitsubishi UFJ, Morgan Stanley & Co. LLC, RBS Securities Inc.
Coupon:	4 5/8%
Price:	Par
Yield:	4 5/8%
Spread:	298 bps
Call protection:	Non-callable
Make-whole:	Treasuries plus 50 bps
Trade date:	Nov. 7
Settlement date:	Nov. 13
Ratings:	Moody's: Ba2
	Standard & Poor's: BB
Distribution:	SEC registered
Price talk:	4 5/8% area
Marketing:	Quick to market

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