People & Business :: Companies
Celanese Plans to Refinance Debt and Repurchase Shares
9:41 AM MDT | July 25, 2007 | Chemical Week Editorial Staff
Celanese says it will initiate a refinancing program to reduce debt by more than $200 million, lower net interest expense, extend debt maturities, and improve flexibility. As part of the plan, Celanese will establish a new credit facility of up to $3.6 billion, replacing existing credit facility of up to $2.45 billion. The company says it will also buy back approximately $400 million of its common stock, which represents about 8% of the company’s outstanding shares at a price of $28.00-$30.50/share. Celanese says it will fund the share repurchase with a...
This information is only available to Chemical Week subscribers.
Forgot your user ID or password?
Not an IHS Chemical Week member yet?
Here's why you should be:
100% Satisfaction Guarantee