MRO Magazine

Celanese Launches Unsecured Credit Facility to Refinance Existing Secured Loans; Targets Investment Grade Credit Rating


June 16, 2016
By Business Wire News

DALLAS

Celanese Corporation (NYSE: CE), a global technology and specialty materials company, today announced that it has launched a transaction to refinance its existing secured credit facility with a new credit facility consisting of an unsecured term loan and an unsecured revolver.

“In 2012, we established an objective of working towards investment grade. Since that time, we have driven significant earnings growth and have deleveraged our balance sheet, and our credit metrics are well within investment grade levels,” said Mark Rohr, chairman and chief executive officer. “Moving to an investment grade credit rating is a natural step in the evolution of Celanese. Maintaining a strong balance sheet will further enable our growth strategies, reinforce our disciplined M&A approach, support the execution of our shareholder cash return commitments and lower our cost of borrowing. We plan to maintain a targeted leverage ratio of gross debt to EBITDA of 2.0 or lower on a long-term basis,” said Rohr.

About Celanese

Celanese Corporation is a global technology leader in the production of differentiated chemistry solutions and specialty materials used in most major industries and consumer applications. Our two complementary business cores, Acetyl Chain and Materials Solutions, use the full breadth of Celanese’s global chemistry, technology and business expertise to create value for our customers and the corporation. As we partner with our customers to solve their most critical business needs, we strive to make a positive impact on our communities and the world through The Celanese Foundation. Based in Dallas, Celanese employs approximately 7,000 employees worldwide and had 2015 net sales of $5.7 billion. For more information about Celanese Corporation and its product offerings, visit www.celanese.com or our blog at www.celaneseblog.com.

Forward-Looking Statements

This release may contain “forward-looking statements,” which include information concerning the company’s plans, objectives, goals, strategies, future revenues or performance, capital expenditures, financing needs and other information that is not historical information. When used in this release, the words “outlook,” “forecast,” “estimates,” “expects,” “anticipates,” “projects,” “plans,” “intends,” “believes,” and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the company will realize these benefits or that these expectations will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements contained in this release. Numerous factors, many of which are beyond the company’s control, could cause actual results to differ materially from those expressed as forward-looking statements. Other risk factors include those that are discussed in the company’s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made, and the company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.

All registered trademarks are owned by Celanese International Corporation or its affiliates.

Celanese Corporation
Investor Relations
Chuck Kyrish, +1-972-443-4574
Chuck.Kyrish@celanese.com
or
Media Relations – Global
Travis Jacobsen, +1-972-443-3750
William.Jacobsen@celanese.com