Chemours provides early tender results, receives requisite consents

Chicago, Aug. 17 – Chemours Co. announced the early results of its tender offer for any and all of the $750 million outstanding 7% senior notes due 2025 (Cusip: 163851AD0) on Tuesday, according to a press release.

As of the early deadline of 5 p.m. ET on Aug. 17, the company received tenders for $462,076,000, or 61.61%, of the outstanding notes.

The company was also soliciting consents. The company received the requisite consents to shorten the minimum notice periods under the indenture for the optional redemption of the notes.

For the solicitation to be successful, Chemours had to receive consents from noteholders representing a majority of the principal amount of notes.

The company is offering a total consideration of $1,025 per $1,000 note for noteholders who tendered by the early deadline. The total consideration includes a $30 early tender payment. Accrued interest will also be paid to the relevant settlement date.

Early settlement is expected on Aug. 18.

The expiration time is midnight ET on Aug. 31.

The offer is conditioned on the completion of a new debt offering. Chemours priced $650 million of new notes on Aug. 4.

Citigroup Global Markets Inc. (800 558-3745, 212 723-6106) is the dealer manager and solicitation agent.

Global Bondholder Services Corp. (866 470-3800, 212 430-3774, contact@gbsc-usa.com, https://www.gbsc-usa.com/Chemours) is the depositary and the information agent.

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

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