Kronos Worldwide Inc (KRO) has released an update to notify the public and investors about a regulation fd disclosure.
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Kronos Worldwide, Inc. announced the initiation of an exchange offer for eligible holders to swap 3.75% Senior Secured Notes due 2025 for new 9.50% Senior Secured Notes due 2029 and cash, with a maximum acceptance of €325 million in Old Notes. Concurrently, they began a consent solicitation for amendments to the indenture of the Old Notes. Funding for the cash component will come from a loan by Contran Corporation. The company also provided preliminary fourth quarter results, projecting higher net sales and EBITDA compared to the previous year, and shared an optimistic 2024 outlook based on improved consumer demand and cost-saving measures.
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