Celanese Completes Senior Unsecured Notes Offering

Thu, August 5 2021

DALLAS--(BUSINESS WIRE)-- Celanese Corporation (NYSE: CE), a global chemical and specialty materials company, today announced that its subsidiary, Celanese US Holdings LLC, has completed a registered offering of $400 million of U.S. dollar-denominated 1.400% Senior Notes due 2026 (the “Notes”).

The net borrowing rate to the company will be 1.421%. The net proceeds from the issuance of the Notes will be used to repay outstanding indebtedness under the company’s revolving credit facility, of which there is $400 million outstanding and all of which was used to repay the company’s 5.875% senior notes in full at their maturity on June 15, 2021. The Notes are guaranteed on a senior unsecured basis by the company and certain Celanese domestic subsidiaries, similar to prior issuances.

“This deal is another transaction that will extend our debt maturity profile and reduce our interest expense. The continued strength of our business performance is reflected in a recently improved credit rating and outlook, allowing us to extend our debt maturities at lower borrowing costs,” said Scott Richardson, Executive Vice President and Chief Financial Officer.

About Celanese

Celanese Corporation is a global chemical leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our businesses use the full breadth of Celanese's global chemistry, technology and commercial expertise to create value for our customers, employees, shareholders and the corporation. As we partner with our customers to solve their most critical business needs, we strive to make a positive impact on our communities and the world through The Celanese Foundation.

Forward-Looking Statements: This release may contain “forward-looking statements,” which include information concerning the use of net proceeds from the offering and other information that is not historical information. When used in this release, the words “outlook,” “forecast,” “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the Company will realize these expectations or that these beliefs will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the results expressed or implied by the forward-looking statements contained in this release. Numerous other factors, many of which are beyond the Company’s control, could cause actual results to differ materially from those expressed as forward-looking statements. Other risk factors include those that are discussed in the Company’s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.

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Celanese Contacts:
Investor Relations
Brandon Ayache
+1 972 443 8509
brandon.ayache@celanese.com

Media Relations – Global
W. Travis Jacobsen
+1 972 443 3750
william.jacobsen@celanese.com

Media Relations Europe (Germany)
Petra Czugler
+49 69 45009 1206
petra.czugler@celanese.com

Source: Celanese Corporation