CC pushes loan maturity to 2032; signs €180M receivables deal
Rhea-AI Filing Summary
The Chemours Company amended its credit agreement, extending the maturity of its $1,050,000,000 senior secured U.S. dollar term loan (Term Loan B-3) from August 18, 2028 to October 15, 2032. The loan’s pricing was reset to either adjusted Term SOFR + 3.50% or adjusted base rate + 2.50%, at the company’s election.
Separately, several wholly owned European subsidiaries entered a receivables purchase agreement with BNP Paribas Factor allowing sales of eligible receivables up to an aggregate outstanding balance of €180,000,000. The initial term runs through October 14, 2026 with automatic one-year extensions, and Chemours acceded to joint and several liability for seller obligations. Receivables are sold at their nominal amount less customary deductions, with applicable interest and fees payable to BNP.
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Insights
Maturity pushed to 2032 and €180M factoring add liquidity options.
Chemours extended its Term Loan B-3 maturity to
The receivables purchase agreement with BNP permits up to
Key dependencies include usage levels under the factoring cap and adherence to covenants and eligibility criteria in the agreements. Subsequent disclosures may quantify utilization and any impact on working capital metrics.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported)
(Exact Name of Registrant as Specified in Its Charter)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company |
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. |
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Item 1.01 Entry into a Material Definitive Agreement.
On October 15, 2025 (the “Amendment No. 4 Effective Date”), The Chemours Company (the “Company”) entered into Amendment No. 4 (the “Amendment”) by and among the Company, The Chemours Company FC, LLC, the lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent (the “Administrative Agent”), which amends the Second Amended and Restated Credit Agreement, dated as of August 18, 2023, among the Company, the lenders from time to time party thereto and the Administrative Agent (as amended, supplemented or otherwise modified from time to time prior to October 15, 2025, the “Existing Credit Agreement” and as amended by the Amendment, the “Credit Agreement”). The Amendment extended the maturity date of the Company’s $1,050,000,000 senior secured U.S. dollar-denominated term loan facility (the “Term Loan B-3 US$ Facility”) from August 18, 2028 to October 15, 2032. The Amendment changed the applicable margin in respect of the Term Loan B-3 US$ Facility to, at the election of the Company, adjusted Term SOFR + 3.50% or adjusted base rate plus 2.50%.
The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 is incorporated herein by reference.
Item 8.01 Other Events.
On October 13, 2025 (the “Factor Closing Date”), Chemours Deutschland GmbH, a private company with limited liability incorporated under the laws of Germany, Chemours International Operations Sarl, a private company with limited liability incorporated under the laws of Switzerland, Chemours Netherlands BV, a private company with limited liability incorporated under the laws of Netherlands, Chemours International BV, a private company with limited liability incorporated under the laws of Netherlands, Chemours UK Limited, a private company with limited liability incorporated under the laws of the United Kingdom, and Chemours Belgium BV, a private company with limited liability incorporated under the laws of Belgium (collectively, the “Chemours Sellers”), entered into a Receivables Purchase Agreement (the “Purchase Agreement”) with BNP Paribas Factor GmbH (“BNP”). On October 14, 2025, the Company, acceded to joint and several liability for all liabilities of the Chemours Sellers under the Receivables Purchase Agreement. Each of the Chemours Sellers is a direct or indirect wholly-owned subsidiary of the Company.
Pursuant to the Purchase Agreement, and subject to the terms and conditions set forth therein, the Chemours Sellers agree to offer for sale and to sell, and BNP agrees to purchase, certain eligible receivables and related rights in an amount of up to an aggregate outstanding balance of €180,000,000. The Purchase Agreement contains customary representations, warranties and covenants.
The initial term of the Purchase Agreement extends through October 14, 2026 and will be automatically extended for one-year period, unless earlier terminated in accordance with the terms of the Purchase Agreement. Pursuant to the Purchase Agreement, the purchase price for receivables sold pursuant to the Purchase Agreement will be the nominal amount of such receivables, less customary deductions. The Chemours Sellers and the Company will be obligated to pay applicable interest and fees to BNP.
The foregoing description is only a summary of the Receivables Purchase Agreement, and is qualified in its entirety by reference to the full text of the Receivables Purchase Agreement, which is filed as Exhibit 99.1 hereto, and which is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
10.1 |
Amendment No. 4, dated as of October 15, 2025, by and among The Chemours Company, The Chemours Company FC, LLC, the Lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, to the Second Amended and Restated Credit Agreement dated as of August 18, 2023. |
99.1* |
Receivables Purchase Agreement, dated as of October 13, 2025, by and between Chemours Deutschland GmbH, Chemours International Operations Sarl, Chemours Netherlands BV, Chemours International BV, Chemours UK Limited and Chemours Belgium BV and BNP Paribas Factor GmbH. |
104 |
Cover Page Interactive Data File (formatted as Inline XBRL). |
* Annexes, schedules and/or exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The Company agrees to furnish supplementally a copy of any omitted attachment to the SEC on a confidential basis upon request.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
THE CHEMOURS COMPANY |
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By: |
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/s/ Shane Hostetter |
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Shane Hostetter |
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Senior Vice President, Chief Financial Officer |
Date: |
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October 15, 2025 |
FAQ
What did Chemours (CC) change in its term loan?
What is the size of Chemours’ new receivables program with BNP?
How long does the BNP receivables agreement run for CC?
What price will BNP pay for receivables from Chemours’ subsidiaries?
Did Chemours guarantee the receivables program obligations?
Which subsidiaries are party to the receivables agreement?
