The Chemours Company Announces Closing of Notes Offering and Credit Facilities

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May 12, 2015, 05:20 ET

WILMINGTON, Del., May 12, 2015 /PRNewswire/ -- The Chemours Company ("Chemours"), a wholly owned subsidiary of E. I. du Pont de Nemours and Company ("DuPont"), announced today the completion of certain financing transactions in connection with DuPont's previously announced proposed pro rata distribution of Chemours common stock to holders of DuPont common stock, subject to customary closing conditions (the "Separation").

Chemours completed an offering of its $1,350 million 6.625 percent senior notes due 2023, $750 million 7.000 percent senior notes due 2025 and €360 million 6.125 percent senior notes due 2023 (the "Notes"). Chemours also entered into a credit agreement with a syndicate of banks providing for a seven-year $1.5 billion senior secured Term Loan B Facility and a five-year $1.0 billion senior secured Revolving Credit Facility. Chemours used the proceeds from the financing transactions to fund a distribution to DuPont of approximately $3.9 billion, in recognition of the assets contributed to it by DuPont in anticipation of the Separation.

"It is critical to get the backing from the debt capital markets as we near the launch of The Chemours Company as an independent company on July 1. We are pleased with the market reception following our debt roadshows, which has been very favorable and supportive of our strategic plans for Chemours," stated Mark Vergnano, executive vice president, DuPont and CEO Designate of Chemours.

The Notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities law, and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act and applicable state securities laws. The Notes were offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A under the Securities Act and to non-U.S. persons in compliance with Regulation S under the Securities Act. This press release does not constitute an offer to sell any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer or sale would be unlawful.

About The Chemours Company

A wholly-owned subsidiary of DuPont, The Chemours Company is a global leader in titanium technologies, fluoroproducts and chemical solutions, providing its customers 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 9,000 employees across 37 manufacturing sites serving more than 5,000 customers in North America, Latin America, Asia-Pacific and Europe. Chemours is headquartered in Wilmington, Del.

About DuPont

DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment.

Forward-Looking Statements: This document contains forward-looking statements which may be identified by their use of words like "plans," "expects," "will," "believes," "intends," "estimates," "anticipates" or other words of similar meaning. All statements that address expectations or projections about the future, including statements about the timing of the Separation, are forward looking 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. Forward-looking statements also involve risks and uncertainties. One important factor that could cause actual results to differ materially from those projected in any such forward looking statements risks that the conditions to the Separation are not satisfied. Neither DuPont nor Chemours undertakes any duty to update such forward-looking statements as a result of future developments or new information.

The DuPont Oval Logo, DuPont™, Teflon®, Ti-Pure®, Krytox®, Viton®, Opteon® and Nafion® are registered trademarks or trademarks of DuPont or its affiliates.

SOURCE DuPont