Tronox to redeem 6˝% notes due 2025 with incremental loan, cash

By Rebecca Melvin

Concord, N.H., Feb. 23 – Tronox Holdings plc plans to redeem all of its outstanding $500 million of 6˝% senior secured notes due 2025 using proceeds from a $400 million incremental term loan and cash on hand, according to a company news release.

The redemption, which is conditioned on the closing of the incremental term loan, will be at par plus a make-whole premium and interest on April 4.

The incremental term loan was being launched under the company’s existing credit agreement.

The vertically integrated titanium dioxide producer is based in Stamford, Conn.

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