Celanese Kicks Off Bond Sale to Fund $1.75 Billion Cash Tender Offer
- The chemicals maker announced cash tender on Thursday
- Oneok was also in the market with a debt offering to fund M&A
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Celanese Corp. tapped the US investment-grade bond market Thursday to help pay for a cash tender offer.
The Irving, Texas-based chemicals company sold $3 billion of debt in a three-part deal, according to a person familiar with the matter who asked not to be identified as the details are private. The longest portion of the debt offering, a 10-year fixed-rate note, yields 2.6 percentage points over Treasuries after initial pricing discussions of around 2.95 percentage points, said the person.