Tronox Closes $900M Debt Offering

Tronox Limited

announced today that its subsidiary, Tronox Finance LLC, has closed the offering of $900 million aggregate principal amount of its 6.375 percent Senior Notes due 2020.  The offering was made to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The notes bear interest semiannually at a rate equal to 6.375 percent and were sold to the holders at par value.  The notes are fully and unconditionally guaranteed on a senior, unsecured basis by Tronox Limited and certain of its subsidiaries.   Approximately $400 million of the proceeds of the notes are expected to be used for returns of shareholder capital, including share buybacks. The remainder of the proceeds is expected to be used for general corporate purposes, and subject to required approvals may also be used for further returns of capital to shareholders from time to time (including by way of dividend). The notes and related guarantees were not registered under the Securities Act, or any state securities laws, and unless so registered, may