New Issue: Celanese prices $500 million 3.5% five-year notes with 120 bps spread

By Cristal Cody

Tupelo, Miss., April 29 – Celanese US Holdings LLC priced $500 million of 3.5% five-year senior notes on Monday at 99.895 to yield 3.523%, according to an FWP filing with the Securities and Exchange Commission.

The notes priced at a spread of 120 basis points over Treasuries.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC, BofA Merrill Lynch, Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc. were the bookrunners.

The notes are guaranteed by Celanese Corp. and certain other subsidiaries of the issuer.

Proceeds will be used to redeem the company’s 3.25% senior notes due Oct. 15, 2019, to repay debt under its credit facility and for general corporate purposes.

Celanese is a Dallas-based chemicals company.

Issuer:	Celanese US Holdings LLC
Guarantors:	Celanese Corp. and certain other subsidiaries of the issuer
Amount:	$500 million
Maturity:	May 8, 2024
Description:	Senior notes
Bookrunners:	Citigroup Global Markets Inc., J.P. Morgan Securities LLC, BofA Merrill Lynch, Deutsche Bank Securities Inc. and HSBC Securities (USA) Inc.
Co-managers:	Barclays, Commerz Markets LLC, Morgan Stanley & Co. LLC, MUFG, PNC Capital Markets LLC, SMBC Nikko Securities America, Inc., UniCredit Capital Markets LLC and U.S. Bancorp Investments, Inc.
Coupon:	3.5%
Price:	99.895
Yield:	3.523%
Spread:	Treasuries plus 120 bps
Call features:	Make-whole call at Treasuries plus 20 bps; starting April 8, 2024 at par
Trade date:	April 29
Settlement date:	May 8
Ratings:	Moody’s: Baa2
	S&P: BBB
	Fitch: BBB+
Distribution:	SEC registered

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