Celanese Corp. (CE), a chemical and specialty materials company, on Tuesday announced that its wholly owned subsidiary, Celanese US Holdings LLC, has launched cash tender offers to repurchase up to $1 billion of its outstanding 2027 and 2028 senior notes.
The offers include a cap of $100 million for the 2028 notes. Holders who tender by December 15 will receive total consideration of $1,037.50 per $1,000 for the 2027 notes and $1,055.00 per $1,000 for the 2028 notes, including early-tender payments.
The tender offers expire on December 31, with early settlement expected on December 17 and final settlement on January 5, subject to a concurrent debt financing condition.
The company said accepted notes will be repurchased in order of priority and retired after settlement.
In the pre-market trading, Celanese is 0.74% lesser at $41.52 on the New York Stock Exchange.
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