Note 15. Debt

Senior Secured Credit Facilities

On August 18, 2023, the Company entered into the Credit Agreement, which provides for a $900 senior secured revolving credit facility (the “Revolving Credit Facility”) and five-year senior secured term loans (the "Senior Secured Term Loan Facility", collectively, the “Senior Secured Credit Facilities”).

On May 2, 2025, the Company entered into the Amendment No. 3 (the "Third Amendment") among the Company, certain subsidiaries of the Company, the lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent, which amends the Credit Agreement. The Third Amendment increased the total net leverage ratio thresholds governing the applicable rate for the Company’s revolving commitments existing immediately prior to the consummation of the transaction contemplated by the Amendment to May 2, 2030, increased the maximum senior secured net leverage ratio quarterly maintenance test through the fiscal quarter ended September 30, 2026, extended the termination date of certain revolving commitments and increased the aggregate revolving commitments available to $1,000, comprised of $780 in revolving commitments that mature on May 2, 2030 and $220 in revolving commitments that mature on October 7, 2026. The Revolving Credit Facility is subject to a springing maturity in the event that the Dollar Term Loans, the Euro Term Loans or the unsecured notes due 2028 and 2029 are not redeemed, repaid, modified, and/or refinanced within the 91 day period prior to their maturity date.

The Senior Secured Term Loan Facility provides for a Tranche B-4 class of term loans, denominated in U.S. dollars, in an aggregate principal amount of $1,070 (the “Dollar Term Loan”) and a Tranche B-3 class of term loans, denominated in euros, in an aggregate principal amount of €415 million (the “Euro Term Loan”) (collectively, the “Term Loans”). Following the first amendment to the Credit Agreement, which was entered into on November 29, 2024, the Dollar Term Loan bears a variable interest rate equal to, at the election of the Company, adjusted Term Secured Overnight Financing Rate ("SOFR") plus 3.00%, subject to an adjusted SOFR floor of 0.50%, or adjusted base rate, plus 2.00%, subject to a base rate floor of 1.00%. Following the second amendment to the Credit Agreement, which was entered into on December 13, 2024, the Euro Term Loan bears a variable interest rate equal to adjusted Euro Interbank Offered Rate ("EURIBOR") plus 3.25%, subject to an adjusted EURIBOR floor of 0.0%. The Term Loans will mature on August 18, 2028, and are subject to acceleration in certain circumstances.

On October 15, 2025, the Company entered into Amendment No. 4 (the “Fourth Amendment”) among the Company, certain subsidiaries of the Company, the lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent, which amends the Credit Agreement. The Fourth Amendment extended the maturity date of the Company’s $1,050 senior secured U.S. Dollar Term Loan from August 18, 2028 to October 15, 2032. The Fourth Amendment also changed the applicable margin in respect of the Dollar Term Loan to, at the election of the Company, adjusted Term SOFR + 3.50% or adjusted base rate plus 2.50%.

Subsequent to the date of these financial statements, in April 2026, the Company used €140 million of cash to pay down a portion of the outstanding tranche B-3 euro term loan due August 2028.

No borrowings were outstanding under the Revolving Credit Facility at March 31, 2026 and December 31, 2025. The Company made term loan repayments of $3 during each of the three months ended March 31, 2026 and 2025. Chemours also had $47 and $45 in letters of credit issued and outstanding under the Revolving Credit Facility at March 31, 2026 and December 31, 2025, respectively. At March 31, 2026, the effective interest rates on the Dollar Term Loan and the Euro Term Loan were 7.2% and 5.2%, respectively. Also, at March 31, 2026, commitment fees on the Revolving Credit Facility were assessed at a rate of 0.25% per annum.

Senior Unsecured Notes

On March 12, 2026, The Chemours Company (the “Company”) closed the private offering (the “Offering”) of $700 aggregate principal amount of the Company’s 7.875% Senior Notes due 2034 (the “Notes”), pursuant to the Purchase Agreement (the “Purchase Agreement”), dated as of February 26, 2026, by and among the Company, the guarantor named therein and Goldman Sachs & Co. LLC, as representative of the several initial purchasers named therein. The Notes were issued pursuant to the Indenture, dated as of November 27, 2020 (the “2020 Base Indenture”), between the Company and Deutsche Bank Trust Company Americas, as successor trustee to U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank Trust Company), as trustee (the “Trustee”), as supplemented by the Fourth Supplemental Indenture setting forth the terms of the Notes, dated as of March 12, 2026, among the Company, the guarantor named therein and the Trustee (the “2026 Fourth Supplemental Indenture” and together with the 2020 Base Indenture, the “Indenture”). The Company used the net proceeds from the Offering together with cash on hand to fund the redemption of $188 aggregate principal amount of the Company’s 5.750% senior notes due 2028 for an aggregate redemption price of approximately $190, including payments related to extinguishments of debt. The remaining net proceeds from the Offering were used to fund the redemption of the Company’s outstanding 5.375% senior notes due 2027 of $495 aggregate principal amount, for an aggregate redemption price of $499, including payments related to extinguishments of debt.

Accounts Receivable Securitization Facility

The Company, through a wholly-owned special purpose entity (“SPE”), maintains an amended and restated receivables purchase agreement dated March 9, 2020, which was amended on March 5, 2021 and further amended on November 24, 2021 and March 23, 2023 (the “Amended Purchase Agreement”). Pursuant to the Amended Purchase Agreement, the Company does not maintain effective control over the transferred receivables and therefore accounts for these transfers as sales of receivables.

On March 28, 2025, the Company entered into Amendment No. 4 to its Amended Purchase Agreement to extend the maturity date from March 31, 2025 to March 31, 2028 and decrease the facility limit from $175 to $165.

Cash received from collections of sold receivables is used to fund additional purchases of receivables at 100% of face value on a revolving basis, not to exceed the facility limit, which is the aggregate purchase limit. During the three months ended March 31, 2026 and 2025, the Company received $331 and $325, respectively, of cash collections on receivables sold under the Amended Purchase Agreement, following which it sold and derecognized $360 and $353, respectively, of incremental accounts receivable. The Company maintains continuing involvement as it acts as the servicer for the sold receivables and guarantees payment to the bank. As collateral against the sold receivables, the SPE maintains a certain level of unsold receivables, which amounted to $146 and $153 at March 31, 2026 and December 31, 2025, respectively. The Company incurred $1 of fees associated with the Securitization Facility during each of the three months ended March 31, 2026 and 2025, respectively. Costs associated with the sales of receivables are reflected in the Company’s consolidated statements of operations for the periods in which the sales occur.

European Accounts Receivable Factoring Arrangement

On October 13, 2025, Chemours Deutschland GmbH, a private company with limited liability incorporated under the laws of Germany; Chemours International Operations Sarl, a private company with limited liability incorporated under the laws of Switzerland; Chemours Netherlands B.V., a private company with limited liability incorporated under the laws of the Netherlands; Chemours International B.V., a private company with limited liability incorporated under the laws of the Netherlands; Chemours UK Limited, a private company with limited liability incorporated under the laws of the United Kingdom; and Chemours Belgium BV, a private company with limited liability incorporated under the laws of Belgium (collectively, the “Chemours Sellers”), entered into a Receivables Purchase Agreement (the “Receivables Purchase Agreement”) with BNP Paribas Factor GmbH (“BNP”). The Company acceded to joint and several liability for the obligations of the Chemours Sellers under the Receivables Purchase Agreement. Pursuant to the Purchase Agreement, and subject to the terms and conditions set forth therein, certain subsidiaries of the Company agreed to offer for sale and to sell, and BNP agreed to purchase, certain eligible receivables and related rights in an amount of up to an aggregate outstanding balance of €180 million. The initial term of the Receivables Purchase Agreement extends through October 31, 2026 and will be automatically extended for one-year periods, unless earlier terminated in accordance with the terms of the Purchase Agreement.

For the three months ended March 31, 2026, the Company received $90 of cash collections on receivables sold under the Receivables Purchase Agreement, following which it sold and derecognized $90, of incremental accounts receivable. The Company maintains continuing involvement with the sold receivables as it acts as the servicer for the sold receivables. During the three months ended March 31, 2026, the Company incurred $1 of fees associated with the Factoring Facility. Costs associated with the sales of receivables are reflected in the Company’s consolidated statements of operations for the periods in which the sales occur.

Other

In the third quarter of 2025, the Company entered into a financing arrangement, by which an external financing company funded certain of the Company's annual insurance premiums for $21. During the three months ended March 31, 2026, the Company made principal payments of $5 to the financing company, and the remaining $5 is to be repaid within the next three months.

Maturities

The Company has required quarterly principal payments related to the Dollar Term Loan equivalent to 1.00% per annum through June 2028, with the balance due at maturity. Also, on an annual basis, the Company is required to make additional principal payments depending on leverage levels, as defined in the Credit Agreement, equivalent to up to 50% of excess cash flows based on certain leverage targets with step-downs to 25% and 0% as actual leverage decreases to below a 3.50 to 1.00 leverage target. The Company is not required to make additional principal payments in 2025.

Debt Fair Value