WILMINGTON, Del., May 16, 2016 /PRNewswire/ -- The Chemours Company
("Chemours") (NYSE: CC), a global chemistry company with leading
market positions in titanium technologies, fluoroproducts and
chemical solutions, announced today that it has extended its
previously announced offer (the "Exchange Offer") to exchange any
and all of its $1,350 million
aggregate principal amount of 6.625% Senior Notes due 2023 (the
"2023 Notes"), $750 million aggregate
principal amount of 7.000% Senior Notes due 2025 (the "2025 Notes")
and €360 million aggregate principal amount of 6.125% Senior Notes
due 2023 which were issued in a private placement on May 12, 2015 (the "Euro Notes," and together with
the 2023 Notes and the 2025 Notes, the "Original Notes") for an
equal principal amount of its $1,350
million aggregate principal amount of 6.625% Senior Notes
due 2023, $750 million aggregate
principal amount of 7.000% Senior Notes due 2025 and €360 million
aggregate principal amount of 6.125% Senior Notes due 2023, which
have been registered under the Securities Act of 1933, as
amended.
The Exchange Offer, which had originally been scheduled to
expire at 11:59 p.m., New York City time, on May 13, 2016, will now expire at 11:59 p.m., New York
City time, on May 17, 2016,
subject to Chemours' right to further extend the expiration date
for the Exchange Offer.
The extension of the Exchange Offer has been made to allow
holders of outstanding 2023 Notes and 2025 Notes who have not yet
tendered their 2023 Notes and 2025 Notes for exchange additional
time to do so. The extension of the Exchange Offer will not apply
to the Euro Notes. Tenders of the 2023 Notes and the 2025 Notes
during this extension period will not have any withdrawal rights.
All other terms of the Exchange Offer, as set forth in the
prospectus dated April 13, 2016 (the
"Prospectus") and the accompanying letter of transmittal, will
remain in full force and effect, except that the expiration date
for withdrawals of tenders of the 2023 Notes and the 2025 Notes and
the deadline for complying with the guaranteed delivery procedures
for the 2023 Notes and the 2025 Notes will not be extended.
Chemours has been advised that, as of 5:30 p.m. New York
City time, on May 13, 2016,
$1,347,778,000 in aggregate principal
amount of the 2023 Notes and $747,280,000 in aggregate principal amount of the
2025 Notes had been validly tendered and not withdrawn in the
Exchange Offer, representing 99.835% and 99.637% of the aggregate
principal amount outstanding of the 2023 Notes and the 2025 Notes,
respectively.
Requests for assistance or for copies of documents related to
the exchange of outstanding Original Notes denominated in U.S.
dollars, including the Prospectus and the related letter of
transmittal, should be directed to the exchange agent, U.S. Bank
National Association, at (800) 934-6802.
This press release is for informational purposes only and shall
not constitute an offer to exchange, nor a solicitation of an offer
to exchange, any securities. The Exchange Offer is being made only
pursuant to the Prospectus and the accompanying letter of
transmittal and only to such persons and in such jurisdictions as
is permitted under applicable law.
About The Chemours Company
The Chemours Company
(NYSE: CC) helps create a colorful, capable and cleaner world
through the power of chemistry. Chemours is a global leader
in titanium technologies, fluoroproducts and chemical solutions,
providing its customers with solutions in a wide range of
industries with market-defining products, application expertise and
chemistry-based innovations. Chemours ingredients are found
in plastics and coatings, refrigeration and air conditioning,
mining and oil refining operations and general industrial
manufacturing. Our flagship products include prominent brands
such as Teflon™, Ti-Pure™, Krytox™, Viton™, Opteon™ and Nafion™.
Chemours has approximately 8,000 employees across 35
manufacturing sites serving more than 5,000 customers in
North America, Latin America, Asia-Pacific and Europe. Chemours is headquartered in
Wilmington, Delaware and is listed
on the NYSE under the symbol CC. For more information please
visit chemours.com or follow Chemours on Twitter at @chemours.
Forward-Looking Statements
This press release
contains forward-looking statements, which often may be identified
by their use of words like "plans," "expects," "will," "believes,"
"intends," "estimates," "anticipates" or other words of similar
meaning. These forward-looking statements address, among other
things, our anticipated future operating and financial performance,
business plans and prospects, transformation plans, resolution of
environmental liabilities, litigation and other contingencies,
plans to increase profitability, our ability to pay or the amount
of any dividend, and target leverage that are subject to
substantial risks and uncertainties that could cause actual results
to differ materially from those expressed or implied by such
statements. Forward-looking statements are not guarantees of future
performance and are based on certain assumptions and expectations
of future events which may not be realized. The matters discussed
in these forward-looking statements also are subject to risks,
uncertainties and other factors that could cause actual results to
differ materially from those projected, anticipated or implied in
the forward-looking statements, as further described in the
registration statement on Form S-4 related to the Exchange Offer,
as filed with the Securities and Exchange Commission. Chemours
undertakes no duty to update any forward-looking statements.
CONTACT:
MEDIA:
Robert
Dekker
Global Corporate Communications
Leader
+1.302.773.4509
robert.dekker@chemours.com
INVESTORS:
Alisha
Bellezza
Director of Investor Relations
+1.302.773.2263
investor@chemours.com
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SOURCE The Chemours Company