DuPont spinoff Chemours eyes debt roadshow for second quarter of 2015

New York, Dec. 18 – Chemours Co., the performance chemicals segment to be spun off by EI DuPont de Nemours & Co., is planning a debt roadshow for early in the second quarter of 2015.

The size of the debt offering has not yet been fixed, but DuPont said it anticipates that Chemours will have a BB rating “with a commensurate debt level,” according to an 8-K filing with the Securities and Exchange Commission.

“Chemours’ capital structure will be designed to leverage its historically strong cash flow generation while maintaining financial flexibility and paying regular dividends to its shareholders,” DuPont said in a news release.

DuPont added that it plans to “work closely” with the rating agencies as it finalizes the capital structure for Chemours.

The debt roadshow will be followed by an equity roadshow in June, and the spinoff is expected to be completed after that.

DuPont said that Chemours will have 9,100 employees, 37 production facilities in 12 countries and over 5,000 customers worldwide. Chemours intends to apply to list on the New York Stock Exchange under ticker symbol “CC.”

Sales for 2013 were $6.9 billion, and the gross profit was $1.5 billion.

Chemours’ businesses include titanium technologies based around the white pigment titanium dioxide, fluoroproducts, and chemical solutions aimed at the gold production, oil refining, agriculture, industrial polymers and other industries.

DuPont is based in Wilmington, Del.

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