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Weekly Roundup of Specialty Chemicals as of May 12, 2017

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Weekly Roundup of Specialty Chemicals as of May 12, 2017 PART 1 OF 4

Chemours to Raise $500 Million in Senior Notes

Chemours to raise additional debt

On May 9, 2017, Chemours (CC) announced that it’s offering $500.0 million in senior notes due in 2027. The notes are priced at 99.051% of the principal amount. The senior notes will carry a coupon rate of 5.375%. The notes will be issued in a minimum denomination of $2,000 and further in multiples of $1,000. The interest on the notes will be paid semi-annually on May 15 and November 15 each year. The first interest will be paid on November 15, 2017.

Chemours to Raise $500 Million in Senior Notes

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Chemours is expected to use the proceeds from the offer for general corporate purposes, including the PFOA (perfluorooctanoic acid) settlement, if finalized.

Chemours stock performance for the week ended May 12

Chemours (CC) stock closed at an all-time high of $43.82 on May 12, 2017, rising 6.3% for the week. It was trading 36.9% above the 100-day moving average of $32.01, indicating an upward trend. On a year-to-date basis, CC has risen 98.4%.

CC has a 14-day RSI (relative strength index) of 72, which indicates that the stock has temporarily moved into an overbought position. An RSI of 70 or higher indicates that a stock is overbought, and a score of 30 or below indicates that a stock is oversold.

CC outperformed the PowerShares DWA Basic Materials Momentum ETF (PYZ), which fell 1.0% for the week ended May 5, 2017. PYZ holds 5.9% of its portfolio in Chemours. The top holdings of PYZ include FMC (FMC), International Paper (IP), and Air Products & Chemicals (APD) with weights of 5.1%, 4.6%, and 4.0%, respectively, as of May 12, 2017.

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