Celanese prices $7.5B financing for DuPont M&M acquisition

• Celanese (NYSE:CE) announced that its subsidiary, Celanese US has priced a registered offering of $7.5B aggregate principal amount of notes of various maturities with interest rates ranging from 5.91% to 6.38%.
• Money will be deployed for the acquisition of a majority of DuPont’s Mobility & Materials business.
• Offering is expected to close on or about July 14, 2022.
• Company simultaneously entered into a cross-currency swap to effectively convert $2.5B of the US dollar denominated notes into a euro-denominated borrowing at prevailing euro interest rates.
• Effective net borrowing rate to the Company will be approximately 5.6%, inclusive of the yield on the Notes and the beneficial impact of the currency swap.