Celanese to pay down $750 million term loan via new notes

By William Gullotti

Buffalo, N.Y., Aug. 10 – Celanese US Holdings LLC, a wholly owned subsidiary of Celanese Corp., intends to repay some or all of the $750 million of outstanding debt under its three-year term loan agreement due 2025, according to a 424B2 filing with the Securities and Exchange Commission.

Proceeds to fund the paydown will be derived from the company’s upcoming three-part offering of senior notes.

The company will first use the notes to fund a notes tender offer.

If there are proceeds left over from the tender offer, the company will fully repay the $750 million term loan.

The chemicals company is based in Irving, Tex.

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