MOSCOW (MRC) -- Celanese Corporation, a global technology and specialty materials company, has announced that its wholly owned subsidiary, Celanese US Holdings LLC, priced a public offering of EUR750 million aggregate principal amount of its 1.125% Senior Notes due 2023, as per the company's press release.
The Notes will be guaranteed on a senior unsecured basis by the company and, initially, certain of the Issuer's U.S. subsidiaries.
The company intends to use the net proceeds from the offering to repay amounts outstanding under its existing senior unsecured revolving credit facility of EUR367 million (as of July 15, 2016). We intend to use the excess proceeds for general corporate purposes.
The Notes are being offered pursuant to the company's existing shelf registration statement filed with the securities and exchange Commission. A prospectus supplement, together with the accompanying prospectus, describing the terms of the offering will be filed with the SEC.
As MRC wrote before, Celanese Corporation increased list and off-list selling prices for low density polyethylene (LDPE) polymers in North and South America. The price increase was effective September 1, 2016, or as contracts allow. Thus, LDPE prices will grow by USD0.05/lb (USD0.11/kg or USD110/tonne) for North and South America.
Besides, earlier, Celanese Corporation raised its list and off-list selling prices for Ateva ethylene-vinyl-acetate (EVA) and LDPE polymers in North and South America on July 1, 2016. Prices of Ateva EVA and LDPE rose by USD0.05/lg (USD 0.11/kg or USD110/tonne) for North and South America.
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 7,500 employees worldwide and had 2014 net sales of USD6.8 billion.
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