Celanese Corp Del Stock Price, News & Analysis

Celanese Corporation (NYSE: CE) has successfully completed a registered offering of €500 million in 0.625% Senior Notes due 2028. This issuance is guaranteed by Celanese and its domestic subsidiaries. The proceeds will fund a tender offer to purchase up to €300 million of its 1.125% Senior Notes due 2023 and support general corporate purposes. This move aims to manage debt maturities and lower interest costs, reflecting the company's strengthened credit rating. The tender offer is being conducted under the terms specified in the Offer to Purchase dated August 25, 2021.

Celanese Corporation (NYSE: CE) announced early results of its cash tender offer to purchase up to €300 million of its 1.125% Senior Notes due 2023. As of September 8, 2021, holders validly tendered €412.9 million, with €300 million accepted due to proration. The total consideration for the accepted notes is €1,027.35 per €1,000 principal. The Tender Offer will expire on September 22, 2021, unless extended. The company anticipates completing the offer upon satisfaction of financing conditions linked to a new €500 million offering of 0.625% Senior Notes due 2028.

Celanese Corporation (NYSE: CE) has launched a cash tender offer to purchase up to €300 million of its 1.125% Senior Notes due 2023, with an expiration date of September 22, 2021. The early tender deadline is set for September 8, 2021, with an early tender premium of €30.00 per €1,000 principal amount. The offer aims to manage Celanese's debt profile and extend the maturity of its obligations. All holders of accepted notes will receive accrued interest. This strategic move may also be financed through the issuance of new notes, contingent on market conditions.

Celanese Corporation (NYSE: CE) has completed a registered offering of $400 million in 1.400% Senior Notes due 2026. With a net borrowing rate of 1.421%, the proceeds will be used to repay existing debt under its revolving credit facility.

All $400 million outstanding was previously used to pay off 5.875% senior notes at maturity. CFO Scott Richardson highlighted that this transaction will extend the debt maturity profile and lower interest expenses, backed by a strengthened credit rating and outlook.

Celanese Corporation (NYSE: CE) reported strong second quarter results with GAAP diluted earnings per share of $4.81 and record adjusted earnings per share of $5.02. The company achieved net sales of $2.2 billion, driven by an 18% increase in pricing and a 4% volume rise. Consolidated operating profit reached $567 million, with adjusted EBIT of $691 million. The acquisition of Santoprene™ is anticipated to enhance future earnings. Shareholder returns included $326 million in buybacks and dividends.

Celanese Corporation (NYSE: CE) announced the expansion of its Florence, Kentucky R&D center with a new Pharmaceutical Drug Delivery Feasibility Lab. This expansion aims to enhance development for long-acting controlled release drug delivery, showcasing Celanese's commitment to its Pharmaceutical segment. The lab will provide services such as material characterization and prototyping capabilities, facilitating quicker project advancements for pharmaceutical companies. With over 40 years in the medical market, Celanese aims to innovate drug delivery solutions and improve patient health outcomes.

Celanese Corporation (NYSE:CE) has approved a new $1.0 billion share repurchase authorization, representing approximately 6 percent of the company’s outstanding shares. In the first half of 2021, Celanese utilized $500 million to buy back shares from a previous $1.5 billion authorization. As of June 30, 2021, $560 million remained under that authorization. The addition of this new buyback program supports ongoing shareholder value enhancement.

Celanese Corporation (NYSE: CE) has declared a quarterly cash dividend of $0.68 per share, payable on August 9, 2021. Stockholders of record as of July 26, 2021 will receive the dividend. Celanese is a leading global chemical company with approximately 7,700 employees and reported $5.7 billion in net sales for 2020. The company focuses on differentiated chemistry solutions across various industries and aims to create shareholder value while positively impacting communities through The Celanese Foundation.

Celanese Corporation (NYSE: CE) will host a conference call on July 23, 2021, at 10:00 a.m. Eastern Time to discuss its second quarter 2021 results. The earnings release will be available after market close on July 22. Investors can access the webcast at Celanese Investors. A replay of the call will be accessible from July 23 until August 6, 2021. Celanese is a global leader in specialty materials, employing approximately 7,700 people, with 2020 net sales of $5.7 billion.