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Aug. 16, 2012 /PRNewswire/ -- Tronox Limited (NYSE: TROX) announced today that it has priced the offering of
$900 million aggregate principal amount of 6.375% Senior Notes due 2020 of its subsidiary, Tronox Finance LLC. The offering was made to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside
the United States to non-U.S. persons pursuant to Regulation S under the Securities Act. The closing of the offering is anticipated to take place on or about
August 20, 2012, subject to customary closing conditions.
The notes will bear interest semiannually at a rate equal to 6.375% and were offered at par value. The notes will be fully and unconditionally guaranteed on a senior, unsecured basis by Tronox Limited and certain of its subsidiaries.
$400 million of the proceeds of the notes are expected to be used for returns of shareholder capital, including share buybacks (which may require shareholder approval). The remainder of the proceeds is expected to be used for general corporate purposes, and subject to required approvals may also be used for further returns of capital to shareholders from time to time (including by way of dividend).
The notes and related guarantees will not be registered under the Securities Act, or any state securities laws, and unless so registered, may not be offered or sold in
the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.
This announcement is neither an offer to sell nor a solicitation to buy any of the foregoing securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.