STAMFORD, Conn., April 24, 2020 /PRNewswire/ -- Tronox Holdings
plc (NYSE: TROX; the "Company") today announced that Tronox
Incorporated (the "Issuer"), a wholly owned subsidiary of the
Company, has priced its offering of $500
million aggregate principal amount of 6.500 percent Senior
Secured Notes due 2025 (the "Notes"). The offering was made to
persons reasonably believed to be qualified institutional buyers
pursuant to Rule 144A under the Securities Act of 1933, as amended
(the "Securities Act"), and outside the
United States to non-U.S. persons pursuant to Regulation S
under the Securities Act. The closing of the offering is
anticipated to take place on or about May 1,
2020, subject to customary closing conditions. The Notes
were offered at par and will bear interest semiannually at a rate
equal to 6.500 percent. The Notes will be fully and unconditionally
guaranteed on a senior, secured basis by Tronox Holdings plc and
certain of its subsidiaries.
The Company expects to use the net proceeds from this offering
for general corporate purposes, including the repayment of existing
indebtedness, capital expenditures, strategic investments and
transactions, working capital and other business
opportunities.
The Notes and related guarantees will not be registered under
the Securities Act, or any state securities laws, and unless so
registered, may not be offered or sold in the United States except pursuant to an
exemption from the registration requirements of the Securities Act
and applicable state securities laws.
This announcement is neither an offer to sell nor a solicitation
to buy any of the foregoing securities, nor shall there be any sale
of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such
jurisdiction.
About Tronox
Tronox Holdings plc is one of the world's
leading producers of high-quality titanium products, including
titanium dioxide pigment, specialty-grade titanium dioxide products
and high-purity titanium chemicals; and zircon. We mine
titanium-bearing mineral sands and operate upgrading facilities
that produce high-grade titanium feedstock materials, pig iron and
other minerals. With nearly 7,000 employees across six continents,
our rich diversity, unmatched vertical integration model, and
unparalleled operational and technical expertise across the value
chain position Tronox as the preeminent titanium dioxide
producer in the world.
Forward Looking Statements
Statements in this release
that are not historical are forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements, which are subject to known
and unknown risks, uncertainties and assumptions about us, may
include projections of our future financial performance including
the effects of the COVID-19 pandemic and anticipated synergies
based on our growth and other strategies and anticipated trends in
our business. These statements are only predictions based on our
current expectations and projections about future events. There are
important factors that could cause our actual results, level of
activity, performance, actual synergies, or achievements to differ
materially from the results, level of activity, performance,
anticipated synergies or achievements expressed or implied by the
forward-looking statements. Significant risks and uncertainties may
relate to, but are not limited to, business and market disruptions
related to the COVID-19 pandemic, market conditions and price
volatility for titanium dioxide, zircon and other feedstock
materials, as well as global and regional economic downturns,
including as a result of the COVID-19 pandemic, that adversely
affect the demand for our end-use products; disruptions in
production at our mining and manufacturing facilities; and other
financial, economic, competitive, environmental, political, legal
and regulatory factors. These and other risk factors are discussed
in the Company's filings with the Securities and Exchange
Commission.
You should not rely upon forward-looking statements as
predictions of future events. Unless otherwise required by
applicable laws, we undertake no obligation to update or revise any
forward-looking statements, whether because of new information or
future developments.
Media Contact: Melissa Zona
Direct: +1 636.751.4057
Investor Contact: Jennifer Guenther
Direct: +1.646.960.6598
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SOURCE Tronox Holdings plc