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Celanese Extends Debt Maturities Through $1.4 Billion Refinancing

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Key Takeaways

  • Celanese US Holdings issued $1.4B of senior notes due 2031 and 2034 to extend the debt maturity profile.
  • CE will use proceeds and cash to buy 2027 and 2028 notes and retire the remaining $130M term loan due 2027.
  • Celanese expects average debt maturity to rise to 4.7 years, with the effective net borrowing rate at 5.31%.

Celanese Corporation (CE - Free Report) announced the successful completion of transactions that were aimed at extending its debt maturity profile to improve liquidity. On Dec. 17, 2025, Celanese US Holdings LLC, CE’s subsidiary, completed a registered offering of $1.4 billion of notes. It comprises of $600 million of 7.00% Senior Notes due 2031 and $800 million of 7.38% Senior Notes due 2034.

The net proceeds from the offering, paired with available cash, will be used to purchase $946 million of the Issuer’s 6.67% Senior Notes due 2027 and $254 million of 6.85% Senior Notes due 2028. It will also help retire the remaining $130 million outstanding under the company’s five-year term loan due 2027. Funds will also be applied toward related fees and expenses.

Following the completion of these transactions, Celanese expects the average maturity of its debt to extend from 4.1 years to 4.7 years and a reduction of total debt maturities between 2026 and 2028 from $4.7 billion to $3.4 billion. The expected effective total net borrowing rate will increase approximately 2 basis points, to about 5.31%.

The transactions will align with Celanese’s conservative outlook for free cash flow generation and divestiture proceeds, while pursuing reduction of net debt to 3x Operating EBITDA. The company will remain committed to cash generation and EBITDA growth and deploy all available cash proceeds to bring down leverage.

CE’s shares have lost 37% over the past year compared with the industry’s 1.5% decline.

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CE’s Zacks Rank & Key Picks

CE currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the Basic Materials space are Kinross Gold Corporation (KGC - Free Report) , Fortuna Mining Corp. (FSM - Free Report) and Equinox Gold Corp. (EQX - Free Report) .

At present, KGC sports a Zacks Rank #1 (Strong Buy), while FSM and EQX carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for KGC’s current-year earnings is pegged at $1.67 per share, indicating a rise of 145.59%. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters while missing once, with an average surprise of 17.37%. KGC’s shares have gained 204.8% over the past year.

The Zacks Consensus Estimate for FSM’s current fiscal-year earnings is pinned at 76 cents per share, indicating a 65.22% year-over-year increase. Its shares have surged 122.2% over the past year.

The Zacks Consensus Estimate for EQX’s current-year earnings stands at 54 cents per share, implying a 170% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, with the average earnings surprise of 87%.

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