Chemours priced a $700 million senior notes offering with a 7.875% coupon that matures on March 15, 2034. The private placement was made to qualified institutional buyers under Rule 144A and to non‑U.S. persons under Regulation S, with a closing date of March 12, 2026.
The net proceeds will be used to redeem outstanding 5.375% senior notes due 2027 and to partially redeem 5.750% senior notes due 2028. This refinancing is part of Chemours’ broader debt‑management strategy, which aims to extend the maturity profile of its debt and reduce leverage as the company works toward a net‑leverage ratio below 4× adjusted EBITDA by the end of 2026.
As of February 26, 2026, Chemours reported total debt of $4.3 billion and a debt‑to‑equity ratio of 17.33. In the prior quarter the company’s total debt was $4.4 billion with a debt‑to‑equity ratio of 14.83. The new notes, while carrying a higher coupon than the notes being retired, provide a longer‑term debt horizon that can help mitigate refinancing risk in a market where new debt rates are less favorable than when the older notes were issued. The refinancing also supports the company’s goal of improving profitability, following a Q4 2025 net loss of $8 million and a full‑year 2024 net income of $86 million after a 2023 net loss of $238 million.
Chemours operates through three segments: Thermal & Specialized Solutions, Titanium Technologies, and Advanced Performance Materials. Recent earnings indicate that the Thermal & Specialized Solutions segment is performing well, particularly with Opteon refrigerant sales, while the Advanced Performance Materials segment has faced headwinds. The debt issuance does not directly alter segment performance but strengthens the company’s overall financial position, providing flexibility for future investment and operational initiatives.
The higher coupon on the new notes reflects current market conditions for new debt, which are less favorable than when the older notes were issued. Nevertheless, the maturity extension offers Chemours greater flexibility to manage its debt profile and supports its strategy of asset sales and operational improvements to achieve a healthier balance sheet.
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