MOSCOW (MRC) -- Celanese US Holdings, a wholly owned subsidiary of Celanese Corporation, a global technology and specialty materials company and a global leader in vinyl acetate ethylene (EVA) emulsions, has completed its registered offering of EUR300 million of 3.250% Senior Notes ("The Notes") due 2019, as per Celanese's press release.
The Notes are guaranteed on a senior unsecured basis by the company and certain Celanese US domestic subsidiaries (the "Guarantors").
Celanese US has called for redemption its USD600 million, 6.625% Senior Notes due 2018. The sale of the Notes, plus cash on hand, will be used to pay, on October 15, 2014, the outstanding principal balance of the 6.625% Senior Notes, redemption premium and accrued interest.
In addition, the company, Celanese US and the Guarantors amended its existing senior secured credit facilities. As part of the amendment, all of the US dollar-denominated term loans and all but EUR28 million of the euro denominated term loans under the existing credit agreement were converted into, or refinanced by, term loans with an extended maturity of October 31, 2018. The non-extended portions of the term loans will continue to have a maturity date of October 31, 2016. Additionally, the maturity date of the company's revolving credit facility was extended to October 31, 2018 and the facility was increased by USD300 million to USD900 million.
As MRC reported earlier, in April 2014, Celanese Corporation developed new emulsion products for architectural paints. The company also expanded its product portfolio for the coatings and adhesives industries, including Celansese's solvents, vinyl acetate monomer, EVA polymers and emulsions.
Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Based in Dallas, Texas, Celanese employs approximately 7,400 employees worldwide and had 2013 net sales of USD6.5 billion.
MRC