The Chemours Company (NYSE:CC) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01Entry into a Material Definitive Agreement.
Amendment to Credit Agreement
On April 3, 2017, The Chemours Company (the Company) entered into
Amendment No. 4 (the Amendment) to its Credit Agreement dated May
12, 2015 (the Credit Agreement) among The Chemours Company, the
lenders and issuing banks party thereto and JPMorgan Chase Bank,
N.A., as administrative agent.
The Amendment provides for a new class of term loans, denominated
in Euros, in an aggregate principal amount of 400,000,000 (the
Euro Tranche), and a new class of term loans, denominated in
dollars, in an aggregate principal amount of $940,000,000 (the
Dollar Tranche, and, collectively with the Euro Tranche, the New
Term Loans). The proceeds of the New Term Loans will be used to
prepay in full the term loans outstanding under the Credit
Agreement (the Existing Term Loans). No incremental debt was
incurred as a result of the Amendment. The New Term Loans mature
on May 12, 2022 which is the same maturity date of the Existing
Term Loans. The Euro Tranche bears a variable interest rate equal
to EURIBOR plus 2.25% subject to a EURIBOR floor of 0.75% and the
Dollar Tranche bears a variable interest rate equal to LIBOR plus
2.50% subject to a LIBOR floor of 0.00%. The Amendment also
modifies certain provisions of the Credit Agreement, including
certain negative covenants to allow further flexibility for the
Company.
The foregoing summary of the Amendment is not intended to be
complete and is qualified in its entirety by the complete text of
the Amendment that is attached as Exhibit 10.1 to this Current
Report on Form 8-K and is incorporated herein by reference.
Item 9.01Financial Statements and Exhibits.
(d) Exhibits.
|
10.1 |
Amendment No. 4 to the Credit Agreement dated April 3, |
About The Chemours Company (NYSE:CC)
The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins. The Chemical Solutions segment is a North American provider of industrial chemicals used in gold production, oil and gas, water treatment and other industries. It delivers customized solutions with a range of industrial and specialty chemical products for markets, including plastics and coatings, refrigeration and air conditioning, industrial, mining and oil refining. Its products include titanium dioxide, refrigerants, industrial fluoropolymer resins and a portfolio of mining and industrial chemicals, including sodium cyanide. As of December 31, 2016, the Company operates 26 production facilities located in 10 countries. The Chemours Company (NYSE:CC) Recent Trading Information
The Chemours Company (NYSE:CC) closed its last trading session down -0.32 at 38.18 with 3,775,612 shares trading hands.
