Celanese US Holdings to price $400 million senior notes

By Marisa Wong

Los Angeles, July 29 – Celanese US Holdings LLC plans to price $400 million of senior notes, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by parent company Celanese Corp. and by the issuer’s domestic subsidiaries that guarantee its obligations under its senior credit facilities.

BofA Securities, Inc., Citigroup Global Markets Inc., HSBC Securities (USA) Inc., U.S. Bancorp Investments, Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and MUFG are the joint bookrunners.

PNC Capital Markets LLC., SMBC Nikko Securities America, Inc. and UniCredit Capital Markets LLC are co-managers.

There is a par call feature on the notes.

Proceeds will be used to repay the company’s revolving credit facility, which had about $400 million of debt outstanding as of June 30 and was used to repay the company’s 5.875% senior notes due June 15, 2021 at their maturity. Any remaining proceeds from the new notes will be used for general corporate purposes.

Celanese is a chemical and specialty materials company based in Irvine, Tex.

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