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Debt (Tables)
3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Short-term Debt
As of
March 31,
2024
As of
December 31,
2023
(In $ millions)
Short-Term Borrowings and Current Installments of Long-Term Debt - Third Party and Affiliates
Current installments of long-term debt2,348 1,025 
Short-term borrowings, including amounts due to affiliates(1)
50 146 
Revolving credit facilities(2)
41 212 
Total2,439 1,383 
______________________________
(1)The weighted average interest rate was 2.2% and 2.9% as of March 31, 2024 and December 31, 2023, respectively.
(2)The weighted average interest rate was 3.2% and 3.4% as of March 31, 2024 and December 31, 2023, respectively.
Schedule of Long-term Debt
As of
March 31,
2024
As of
December 31,
2023
(In $ millions)
Long-Term Debt
Senior unsecured notes due 2024, interest rate of 3.500%
473 473 
Senior unsecured notes due 2024, interest rate of 5.900%
527 527 
Senior unsecured notes due 2025, interest rate of 1.250%
324 331 
Senior unsecured notes due 2025, interest rate of 6.050%
1,000 1,000 
Senior unsecured notes due 2026, interest rate of 1.400%
400 400 
Senior unsecured notes due 2026, interest rate of 4.777%
1,081 1,105 
Senior unsecured notes due 2027, interest rate of 2.125%
539 551 
Senior unsecured notes due 2027, interest rate of 6.165%
2,000 2,000 
Senior unsecured term loan due 2027(1)
880 880 
Senior unsecured notes due 2028, interest rate of 0.625%
540 552 
Senior unsecured notes due 2028, interest rate of 6.350%
1,000 1,000 
Senior unsecured notes due 2029, interest rate of 5.337%
540 552 
Senior unsecured notes due 2029, interest rate of 6.330%
750 750 
Senior unsecured notes due 2030, interest rate of 6.550%
999 999 
Senior unsecured notes due 2032, interest rate of 6.379%
1,000 1,000 
Senior unsecured notes due 2033, interest rate of 6.700%
1,000 1,000 
Pollution control and industrial revenue bonds due at various dates through 2030(2)
126 127 
Bank loan due 2026, interest rate of 2.8%
111 — 
Bank loans due at various dates through 2030(3)
Obligations under finance leases due at various dates through 2054
140 148 
Subtotal13,435 13,400 
Unamortized deferred financing costs(4)
(69)(74)
Current installments of long-term debt(2,348)(1,025)
Total11,018 12,301 
______________________________
(1)The interest rate was 6.922% and 6.943% as of March 31, 2024 and December 31, 2023, respectively.
(2)Interest rates range from 4.05% to 5.00%.
(3)The weighted average interest rate was 2.7% and 2.6% as of March 31, 2024 and December 31, 2023, respectively.
(4)Related to the Company's long-term debt, excluding obligations under finance leases.
Schedule of Balances Available for Borrowing
The Company's debt balances and amounts available for borrowing under its senior unsecured revolving credit facilities are as follows:
As of
March 31,
2024
(In $ millions)
U.S. Revolving Credit Facility
Borrowings outstanding— 
Available for borrowing1,750 
China Revolving Credit Facility
Borrowings outstanding41 
Available for borrowing201 
Schedule of Senior Unsecured Notes Offering
In August 2023, Celanese U.S. completed a public offering registered under the Securities Act of senior unsecured notes as follows (collectively, the "2023 Offering"):
Maturity DateAggregate Principal
Amount Issued
Discount to ParInterest Rate
(In $ millions)
November 15, 20281,000 99.986%6.350%
November 15, 2030999 99.950%6.550%
November 15, 20331,000 99.992%6.700%
Schedule of Cash Tender Offer
In August 2023, Celanese U.S. completed a cash tender offer for $2.25 billion in aggregate principal amount (the "Tender Offer") as follows:
Maturity DateAggregate Principal Amount TenderedPurchase price per $1,000 principal amountTotal Tender Offer ConsiderationAccrued and Unpaid Interest
(In $ millions)(In $ millions)
June 30, 20241,473 $999.92 1,473 12 
March 15, 2025750 $1,002.85 752 20 
April 30, 202427 $983.95 27 —