Celanese Corporation Completes Offering of $500 Million of Senior Unsecured Notes

Celanese Corporation

today announced that its wholly-owned subsidiary, Celanese US Holdings LLC, successfully completed an offering of $500 million in aggregate principal amount of 4.625% senior unsecured notes due 2022. In connection with completion of the offering, the company will repay $400 million of its existing senior secured credit facility indebtedness that was set to mature in 2016 and plans to use the remaining proceeds, together with cash on hand, to make a $100 million contribution to its U.S. pension plan. “The execution of this transaction is consistent with Celanese's ongoing strategy of maintaining a flexible, low cost and stable capital structure and achieving an investment grade rating over time. In addition, the U.S. pension contribution will reduce Celanese's aggregate pension obligations,” said Steven Sterin, senior vice president and chief financial officer. “With this transaction, we further extended our debt maturity profile while reducing secured debt in our capital structure. We also continued to improve our credit profile.” This press release shall not constitute an offer to sell or the solicitation of an offer to buy the offered notes, nor shall there be any sales of notes in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.