The Chemours Company Announces Early Tender Results of Conditional Cash Tender Offer and Consent Solicitation for Any and All of Its 7.000% Senior Notes Maturing in 2025 and Receipt of Requisite Consents
August 17, 2021 at 07:04 pm
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The Chemours Company announced the early tender results as of 5:00 p.m., New York City time, on August 17, 2021 (the "Early Tender Deadline") of its previously announced tender offer (the "Tender Offer") to purchase for cash any and all of its outstanding 7.000% senior notes due 2025 (the "Notes"). In connection with the Tender Offer, Chemours also announced the results as of the Early Tender Deadline of its previously announced solicitation of consents (the "Consents") from holders of the Notes (the "Consent Solicitation") to the proposed amendments to the indenture, dated as of May 12, 2015 (the "Base Indenture"), as supplemented by the second supplemental indenture (the "Second Supplemental Indenture"), dated May 12, 2015, which governs the Notes (the Second Supplemental Indenture, together with the Base Indenture, the "Indenture"), providing for the shortening of the minimum notice periods under the Indenture for the optional redemption of the Notes by Chemours (the "Proposed Amendments"). The terms and conditions of the Tender Offer and Consent Solicitation are described in an Offer to Purchase and Consent Solicitation Statement, dated August 4, 2021 (the "Offer to Purchase and Consent Solicitation Statement"). The Tender Offer and Consent Solicitation will expire at Midnight, New York City time, at the end of August 31, 2021, unless extended or earlier terminated by Chemours (the "Expiration Date"). No tenders submitted after the Expiration Date will be valid. Subject to the terms and conditions of the Tender Offer and Consent Solicitation, holders of the Early Tender Notes will receive the Total Consideration set forth in the table above, which includes the Early Tender Payment set forth in the table above. Holders of Notes tendering their Notes after the Early Tender Deadline and prior to the Expiration Date will only be eligible to receive the Tender Offer Consideration set forth in the table above, which is the Total Consideration less the Early Tender Payment.
The Chemours Company is a provider of performance chemicals, which is engaged in providing customized solutions with a range of industrial and specialty chemicals products for markets. Its segments include Titanium Technologies, Thermal & Specialized Solutions and Advanced Performance Materials. Titanium Technologies segment is a provider of titanium dioxide pigment, a premium white pigment used to deliver whiteness, brightness, opacity and protection in various applications. The Thermal & Specialized Solutions segment is a provider of refrigerants, thermal management solutions, propellants, blowing agents, and specialty solvents. The Advanced Performance Materials segment is a provider of high-end polymers and advanced materials. Its flagship products include brands such as Ti-Pure, Opteon, Freon, Teflon, Viton, Nafion, and Krytox. It operates in approximately 28 production facilities located in eight countries and serves 2,700 customers across a range of end markets in 110 countries.
The Chemours Company Announces Early Tender Results of Conditional Cash Tender Offer and Consent Solicitation for Any and All of Its 7.000% Senior Notes Maturing in 2025 and Receipt of Requisite Consents