Clariant places CHF 150 million domestic bond

MOSCOW (MRC) -- Clariant, a world leader in specialty chemicals, has announced the issuance of a CHF 150 million domestic bond, according to the company's statement.

The bond issued has a coupon of 2.125% p.a. and a tenor of 10 years.

The proceeds are for general corporate purposes and will be used to extend the debt maturity profile, while maintaining a very solid liquidity structure. The issue was very well received by Swiss investors, underlining their confidence in the credit quality of Clariant.

Settlement is expected to happen on 17 October 2014.

Clariant Ltd’s current long-term ratings are "BBB-", outlook "stable" at Standard & Poor’s, and "Ba1", "outlook stable" by Moody’s.

As MRC reported earlier, in late July 2014, CB&I and Clariant announced that their new Ziegler-Natta (ZN) polypropylene catalyst plant in Louisville, Kentucky, is on schedule to begin production in 2015. The plant is part of a long-term strategic partnership between Clariant’s catalysts business and CB&I’s Lummus Novolen Technology business. Based at Clariant’s largest US production hub, the new facility will combine innovative catalysts jointly developed by both companies with high-capacity output.

Clariant AG is a Swiss chemical company and a world leader in the production of specialty chemicals for the textile, printing, mining and metallurgical industries. It is engaged in processing crude oil products in pigments, plastics and paints.
MRC

MOSCOW (MRC) - This week the export prices of Chinese and South Korean bottle grade polyethylene terephthalate (PET) for customers in the CIS countries were reduced by USD30-80/tonne on the back of falling feedstock costs, according to ICIS-MRC Price Report.

Importers from Russia and Ukraine reported a sharp decline in the prices of major suppliers of PET chips last week.
According to buyers, a drop in prices resulted from the price reduction of feedstock, such as paraxylene (PX), purified terephthalic acid (PTA) and monoethylene glycol (MEG).

In their turn, the price of feedstock for PET production are falling following the weakening of oil futures. Prices for Chinese bottle grade PET were heard in the range of USD1,200-1,220/tonne FOB China, excluding VAT. There was information about price offer at about USD1,170/tonne FOB China, excluding VAT. Prices for Korean PET were heard at USD1,225-1,250/tonne FOB Korea.

Despite the general decline in prices, the importers in the CIS were in no hurry to increase purchases. Buying activity in the PET market in Russia and Ukraine continued to be very weak.
MRC

MOSCOW (MRC) -- Dow and Preferred Sands, LLC., were recognized with the 2014 Polyurethane Innovation Award at the annual Center for Polyurethanes Industry (CPI) conference in Dallas, Texas, reported the company on its site.

Presented by CPI of the American Chemistry Council, this recognition represents the importance of collaboration to develop new technologies to help solve real-world challenges.

Preferred RCS Resin Coated Sand with Dow TERAFORCE Technology was honored with the award for its role in helping improve oil productivity and the environmental profile of the hydraulic fracturing process, which is at the heart of the US energy boom, manufacturing renaissance and job creation.

The Dow TERAFORCE resin enables the new Preferred RCS product line to be produced using less energy while minimizing environmental impact compared to phenolic resins. It also provides the industry with an outstanding performance-to-cost value, enabling users to substantially improve operations while still curtailing expenses. Not only does it perform well under a range of conditions and depths, but it is also cost-effective and improves the sustainability of the drilling process. As part of its expanded portfolio, RCS GarnetTM was designed specifically for flowback control in low temperatures with a built-in activator that does not require additional chemical treatment, and it produces measurably better bond strength while still delivering superior conductivity.

As MRC wrote before, last summer, Nexans, a worldwide leading expert in the cable industry, introduced its newest product ENERGEX EXTRA powered by DOW ENDURANCE HFDC-4202 tree-retardant cross-linked polyethylene (PE) insulation. The advantages of ENERGEX EXTRA using DOW ENDURANCE HFDC-4202 include: improved resistance to water tree growth; higher retained dielectric strength after ICEA 360 day Accelerated Water Treeing Test (AWTT); and reduced cost of ownership through longer cable life.

The Dow Chemical Company is an American multinational chemical corporation. As of 2007, it is the second-largest chemical manufacturer in the world by revenue (after BASF) and as of February 2009, the third-largest chemical company in the world by market capitalization (after BASF and DuPont). Dow is a large producer of plastics, including polystyrene, polyurethane, polyethylene, polypropylene, and synthetic rubber.
MRC

MOSCOW (MRC) -- Lanxess subsidiary Bond-Laminates, that belongs to the business unit High Performance Materials, has completed capacity expansion at its site in Brilon, Germany, for the high-performance composite Tepex on schedule, reported Lanxess on its site.

The two new production plants were recently taken into operation.

Altogether, the company now has facilities with a total annual capacity of well over four million square meters Tepex. In addition to a new production hall, further storage areas and office space were also added.

"These investments come in response to the rapidly rising demand for Tepex, particularly in the automotive, sports equipment and consumer electronics industries," said Jochen Bauder, Managing Director of Bond-Laminates.

Tepex comprises continuous fiber-reinforced thermoplastic composites. Polyamide, polypropylene, thermoplastic polyurethane, polycarbonate or polyphenylene sulfide is used for the thermoplastic matrix. The continuous-fiber fabrics are made of glass, aramid or carbon fibers. The advantage of Tepex and its products is the high stiffness and strength alongside the very low weight, which means that it can be used in many applications as an alternative to heavier materials such as sheet metal.

As MRC wrote previously, last summer, German specialty chemicals company Lanxess celebrated the opening of its first production facility in Russia. In the new plant at the Lipetsk site, Lanxess subsidiary Rhein Chemie manufactures polymer-bound rubber additives for the markets in Russia and the Commonwealth of Independent States (CIS), primarily for the automotive and tire industries. A production facility for the bladders used in tire production is to be added in 2016. The overall investment volume in euros amounts to a seven-digit figure and 40 new jobs will be created at the new plant in the medium term.

Lanxess is a leading specialty chemicals company with sales of EUR 8.3 billion in 2013 and roughly 17,000 employees in 31 countries. The company is currently represented at 52 production sites worldwide. The core business of Lanxess is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals.
MRC

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.
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