| | |
Per Note
|
| |
Total
|
| ||||||
Public Offering Price(1)
|
| | | | % | | | | | € | | | |
Underwriting Discount
|
| | | | % | | | | | € | | | |
Proceeds to Chemours (before expenses)
|
| | | | % | | | | | € | | |
|
Citigroup
|
| |
J.P. Morgan
|
| |
Barclays
|
|
|
Credit Suisse
|
| |
HSBC
|
| |
RBC Capital Markets
|
|
|
BofA Merrill Lynch
|
| |
Deutsche Bank Securities
|
|
|
Mizuho Securities
|
| |
TD Securities
|
|
| | |
Page
|
| |||
| | | | S-1 | | | |
| | | | S-2 | | | |
| | | | S-4 | | | |
| | | | S-8 | | | |
| | | | S-11 | | | |
| | | | S-17 | | | |
| | | | S-18 | | | |
| | | | S-19 | | | |
| | | | S-20 | | | |
| | | | S-22 | | | |
| | | | S-25 | | | |
| | | | S-53 | | | |
| | | | S-54 | | | |
| | | | S-58 | | | |
| | | | S-62 | | | |
| | | | S-62 | | | |
| | | | S-62 | | | |
Prospectus
|
| ||||||
| | | | 1 | | | |
| | | | 2 | | | |
| | | | 5 | | | |
| | | | 8 | | | |
| | | | 8 | | | |
| | | | 9 | | | |
| | | | 27 | | | |
| | | | 30 | | | |
| | | | 32 | | | |
| | | | 33 | | | |
| | | | 40 | | | |
| | | | 43 | | | |
| | | | 63 | | | |
| | | | 65 | | | |
| | | | 68 | | | |
| | | | 69 | | | |
| | | | 71 | | | |
| | | | 71 | | |
| | |
Three months ended
|
| |
Year ended December 31,
|
|||||||||||||||||||||||||||||||||||
| | |
March 31,
2018 |
| |
March 31,
2017 |
| |
2017
|
| |
2016
|
| |
2015
|
| |
2014
|
| |
2013
|
||||||||||||||||||||
Ratio of Earnings to Fixed Charges
|
| | | | 8 | | | | | | 4 | | | | | | 5 | | | | |
|
(a)
|
| | | |
|
(a)
|
| | | | | 185 | | | | | | 289 |
Sources of Funds
|
| |
Uses of Funds
|
| ||||||||||||
(dollars in millions)
|
| |||||||||||||||
Proceeds from the notes offered hereby(1):
|
| | | | | | | |
Purchase price for the existing 2023 notes(3):
|
| | |||||
Notes(2) | | | | $ | | | |
Existing 2023 dollar notes
|
| | | $ | 263,125 | | | |
| | | | | | | |
Existing 2023 euro notes(2)
|
| | | | 382,875 | | | |
| | | | | | | | |
Estimated fees, expenses, discounts and commissions related to the issuance of the notes hereby
|
| | |||||
Cash on hand
|
| | | | | | | |
General corporate purposes
|
| | | | | | |
Total Sources
|
| | | $ | | | | | Total Uses | | | | $ | | | |
|
| | |
March 31, 2018
|
| |||||||||||||||
| | |
Actual
|
| |
As Adjusted
for Refinancing Transaction |
| |
As Further
Adjusted for Issuance of Notes(1) |
| |||||||||
| | |
(unaudited in millions)
|
| |||||||||||||||
Cash and cash equivalents
|
| | | $ | 1,434 | | | | | $ | 1,359 | | | | | $ | | | |
Long-term debt, including current portion:(2) | | | | | |||||||||||||||
Senior secured dollar term loan
|
| | | | 921 | | | | | | — | | | | | | — | | |
Senior secured euro term loan(3)
|
| | | | 487 | | | | | | — | | | | | | — | | |
New senior secured dollar term loan
|
| | | | — | | | | | | 900 | | | | | | 900 | | |
New senior secured euro term loan(4)
|
| | | | — | | | | | | 434 | | | | | | 434 | | |
Senior unsecured notes: | | | | | |||||||||||||||
6.625% senior notes due May 2023
|
| | | | 1,158 | | | | | | 1,158 | | | | | | 908 | | |
6.125% senior notes due May 2023(5)
|
| | | | 365 | | | | | | 365 | | | | | | — | | |
7.000% senior notes due May 2025
|
| | | | 750 | | | | | | 750 | | | | | | 750 | | |
5.375% senior notes due May 2027
|
| | | | 500 | | | | | | 500 | | | | | | 500 | | |
% senior notes due 2026, offered hereby(6)
|
| | | | — | | | | | | — | | | | |||||
Capital lease and other obligations
|
| | | | 21 | | | | | | 21 | | | | | | 21 | | |
Total debt
|
| | | | 4,202 | | | | | | 4,128 | | | | |||||
Equity: | | | | | |||||||||||||||
Common stock (par value $0.01 per share)
|
| | | | 2 | | | | | | 2 | | | | | | 2 | | |
Treasury stock
|
| | | | (361) | | | | | | (361) | | | | | | (361) | | |
Additional paid-in capital
|
| | | | 846 | | | | | | 846 | | | | | | 846 | | |
Retained earnings
|
| | | | 876 | | | | | | 876 | | | | | | 876 | | |
Accumulated other comprehensive loss
|
| | | | (366) | | | | | | (366) | | | | | | (366) | | |
Total Chemours stockholders’ equity
|
| | | | 997 | | | | | | 997 | | | | | | 997 | | |
Non-controlling interests
|
| | | | 5 | | | | | | 5 | | | | | | 5 | | |
Total equity
|
| | | | 1,002 | | | | | | 1,002 | | | | | | 1,002 | | |
Total capitalization
|
| | | $ | 5,204 | | | | | $ | 5,130 | | | | | $ | | | |
|
Date
|
| |
Percentage
|
| |||
2021
|
| | |||||
2022
|
| | |||||
2023
|
| | |||||
2024 and thereafter
|
| | | | 100.000% | | |
| | |
Principal
Amount of Notes |
| |||
Citigroup Global Markets Inc.
|
| | | € | | | |
J.P. Morgan Securities plc
|
| | |||||
Barclays Bank PLC
|
| | |||||
Credit Suisse Securities (USA) LLC
|
| | |||||
HSBC Securities (USA) Inc.
|
| | |||||
RBC Europe Limited
|
| | |||||
Merrill Lynch International
|
| | |||||
Deutsche Bank Securities Inc.
|
| | |||||
Mizuho International plc
|
| | |||||
TD Securities (USA) LLC
|
| | |||||
SunTrust Robinson Humphrey, Inc.
|
| | |||||
BNP Paribas
|
| | |||||
Citizens Capital Markets, Inc.
|
| | | | | | |
Total
|
| | | € | | | |
|
| | | | | 1 | | | |
| | | | | 2 | | | |
| | | | | 5 | | | |
| | | | | 5 | | | |
| | | | | 6 | | | |
| | | | | 8 | | | |
| | | | | 8 | | | |
| | | | | 9 | | | |
| | | | | 9 | | | |
| | | | | 9 | | | |
| | | | | 9 | | | |
| | | | | 10 | | | |
| | | | | 10 | | | |
| | | | | 10 | | | |
| | | | | 11 | | | |
| | | | | 11 | | | |
| | | | | 12 | | | |
| | | | | 18 | | | |
| | | | | 18 | | | |
| | | | | 19 | | | |
| | | | | 21 | | | |
| | | | | 21 | | | |
| | | | | 21 | | | |
| | | | | 22 | | | |
| | | | | 22 | | | |
| | | | | 22 | | | |
| | | | | 22 | | | |
| | | | | 23 | | | |
| | | | | 23 | | | |
| | | | | 23 | | | |
| | | | | 24 | | | |
| | | | | 24 | | | |
| | | | | 25 | | | |
| | | | | 25 | | | |
| | | | | 26 | | | |
| | | | | 26 | | | |
| | | | | 27 | | | |
| | | | | 27 | | | |
| | | | | 27 | | | |
| | | | | 28 | | | |
| | | | | 28 | | | |
| | | | | 29 | | |
| | | | | 29 | | | |
| | | | | 29 | | | |
| | | | | 30 | | | |
| | | | | 30 | | | |
| | | | | 30 | | | |
| | | | | 32 | | | |
| | | | | 32 | | | |
| | | | | 32 | | | |
| | | | | 32 | | | |
| | | | | 33 | | | |
| | | | | 33 | | | |
| | | | | 33 | | | |
| | | | | 33 | | | |
| | | | | 34 | | | |
| | | | | 34 | | | |
| | | | | 34 | | | |
| | | | | 37 | | | |
| | | | | 39 | | | |
| | | | | 40 | | | |
| | | | | 40 | | | |
| | | | | 41 | | | |
| | | | | 43 | | | |
| | | | | 44 | | | |
| | | | | 56 | | | |
| | | | | 61 | | | |
| | | | | 61 | | | |
| | | | | 61 | | | |
| | | | | 63 | | | |
| | | | | 63 | | | |
| | | | | 63 | | | |
| | | | | 63 | | | |
| | | | | 64 | | | |
| | | | | 64 | | | |
| | | | | 65 | | | |
| | | | | 68 | | | |
| | | | | 69 | | | |
| | | | | 71 | | | |
| | | | | 71 | | |
| | |
Three months ended
|
| |
Year ended December 31,
|
| ||||||||||||||||||||||||||||||||||||
| | |
March 31,
2017 |
| |
March 31,
2016 |
| |
2016
|
| |
2015
|
| |
2014
|
| |
2013
|
| |
2012
|
| |||||||||||||||||||||
Ratio of Earnings to Fixed Charges
|
| | | | 4 | | | | | | 2 | | | | |
|
(a)
|
| | | |
|
(a)
|
| | | | | 185 | | | | | | 289 | | | | | | 747 | | |
Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
|
| | | | 4 | | | | | | 2 | | | | |
|
(a)
|
| | | |
|
(a)
|
| | | | | 185 | | | | | | 289 | | | | | | 747 | | |
|
Bond equivalent yield =
|
| |
D × N
|
| |
× 100
|
|
|
360-(D × M)
|
|