Huntsman Prices $750 Million of Senior Notes
THE WOODLANDS, Texas, Feb. 27, 2019 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) today announced that its wholly-owned subsidiary, Huntsman International LLC, has priced its offering of $750 million in aggregate principal amount of Senior Notes due 2029. The notes will be offered to the public at a price of 98.870% of their principal amount and will bear interest at a rate of 4.500% per annum. Huntsman expects the offering to close on March 13, 2019, subject to customary closing conditions. Huntsman intends to use the net proceeds from the offering to redeem in full $650 million in aggregate principal amount of its 4.875% Senior Notes due 2020 and to pay associated costs and accrued interest. Huntsman intends to use the remainder of the net proceeds for general corporate purposes. Pending the use of proceeds as described above, Huntsman may temporarily apply a portion of the net proceeds from the offering to repay amounts outstanding under its debt. Citigroup Global Markets Inc.; Merrill Lynch, Pierce, Fenner & Smith Incorporated; Barclays Capital Inc.; Deutsche Bank Securities Inc.; Goldman Sachs & Co. LLC; HSBC Securities (USA) Inc.; J.P. Morgan Securities LLC; Morgan Stanley & Co. LLC; PNC Capital Markets LLC and SunTrust Robinson Humphrey, Inc. are acting as the joint book-running managers for the offering. BMO Capital Markets Corp.; ICBC Standard Bank Plc; RBC Capital Markets, LLC and TD Securities (USA) LLC are acting as the senior co-managers for the offering, and Academy Securities, Inc. is acting as the co-manager for this offering. The offering was made under an effective shelf registration statement that was filed with the U.S. Securities and Exchange Commission and became automatically effective on February 25, 2019. The offering of the notes may be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from Citigroup Global Markets Inc. by calling toll-free at 1-800-831-9146 or from Merrill Lynch, Pierce, Fenner & Smith Incorporated by calling toll-free at 1-800-294-1322. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. About Huntsman: Forward-Looking Statements:
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