Celanese Announces Early Results and Upsize of Tender Offers for 6.665% Senior Notes due 2027 and 6.850% Senior Notes due 2028

Core Viewpoint - Celanese Corporation is conducting tender offers to purchase its senior notes, increasing the maximum tender amount and series cap for the notes due in 2027 and 2028, reflecting strong investor interest and adjustments in financial strategy [1][2][6]. Group 1: Tender Offer Details - The company announced early results indicating valid tenders of $946,106,000 for the 6.665% Senior Notes due 2027 and $675,185,000 for the 6.850% Senior Notes due 2028 [4]. - The maximum tender amount has been increased to $1,200,106,000 for the aggregate principal amount of the notes, and the series cap for the 2028 Notes is set at $254,000,000 [2][6]. - The total consideration for each $1,000 principal amount of the 2027 Notes and 2028 Notes validly tendered will be $1,037.50 and $1,055.00, respectively, including an early tender payment of $50.00 [7]. Group 2: Financial Conditions and Management - The interest rates on the 2027 Notes and 2028 Notes have increased to 7.165% and 7.350%, respectively, reflecting a 0.50% rise from their original stated coupons [4]. - The company has retained BofA Securities as the Lead Dealer Manager and D.F. King as the Information and Tender Agent for the tender offers [9]. - The financing condition for the tender offers has been satisfied, allowing the company to proceed with the purchase of the notes [8]. Group 3: Company Overview - Celanese Corporation is a global leader in chemistry, producing specialty material solutions across major industries, with 2024 net sales reported at $10.3 billion [18]. - The company employs over 11,000 individuals worldwide and is committed to sustainability and community impact [18].