Kronos Worldwide, Inc. announced a private offering of an additional €75 million of 9.50% Senior Secured Notes due 2029 through its subsidiary, Kronos International, Inc.
The Notes will be issued as additional notes to existing Notes with the same terms and securities under certain guarantees
The offering was oversubscribed and priced at a 105% premium, with expected proceeds of around €78.8 million before fees and expenses
Private Offering Details
Kronos Worldwide, Inc. priced a private offering of €75 million of 9.50% Senior Secured Notes due 2029 with oversubscription and a 105% premium.
Use of Proceeds
The company intends to use the proceeds to pay off existing 3.75% Senior Secured Notes due September 15, 2025, and for general corporate purposes.
Closing Date
The offering is expected to close around September 15, 2025, subject to customary closing conditions
- The successful private offering indicates investor interest in Kronos Worldwide, Inc.'s future prospects
- The oversubscription and premium pricing reflect confidence in the company's financial health and growth potential
This private offering of additional secured notes demonstrates Kronos Worldwide, Inc.'s ability to attract investor support and strengthen its financial position for future growth and development.