THE WOODLANDS, Texas,
March 31, 2015 /PRNewswire/
-- Huntsman Corporation (NYSE: HUN) today announced that it
has completed its previously announced €300 million offering of
4.25% Senior Notes due 2025 through its wholly owned subsidiary,
Huntsman International LLC.
Huntsman intends to use the net proceeds from the offering to
redeem a portion of its 8.625% Senior Subordinated Notes due 2021
and pay associated accrued interest. In connection with this
transaction, Huntsman expects to incur charges of approximately
$21 million related to the early
extinguishment of debt in the second quarter of 2015.
Kimo Esplin, Executive Vice
President and CFO, stated, "We continue to lower the cost of
borrowing with the issuance of these Euro notes. Our annual
interest expense will decrease by approximately $11 million. In addition, denominating more
of our debt in Euro currency will reduce our net long Euro cash
flow position."
About Huntsman:
Huntsman Corporation is a publicly traded global manufacturer
and marketer of differentiated chemicals with 2014 revenues of
approximately $13 billion including
the acquisition of Rockwood's
performance additives and titanium dioxide businesses. Our chemical
products number in the thousands and are sold worldwide to
manufacturers serving a broad and diverse range of consumer and
industrial end markets. We operate more than 100 manufacturing and
R&D facilities in more than 30 countries and employ
approximately 16,000 associates within our 5 distinct business
divisions. For more information about Huntsman, please visit the
company's website at www.huntsman.com.
Social Media:
Twitter:
twitter.com/Huntsman_Corp
Facebook:
www.facebook.com/huntsmancorp
LinkedIn:
www.linkedin.com/company/huntsman
Forward-Looking Statements:
Statements in this release that are not historical are
forward-looking statements. These statements are based on
management's current beliefs and expectations. The forward-looking
statements in this release are subject to uncertainty and changes
in circumstances and involve risks and uncertainties that may
affect the company's operations, markets, products, services,
prices and other factors as discussed in the Huntsman companies'
filings with the U.S. Securities and Exchange Commission.
Significant risks and uncertainties may relate to, but are not
limited to, financial, economic, competitive, environmental,
political, legal, regulatory and technological factors. The
company assumes no obligation to provide revisions to any
forward-looking statements should circumstances change, except as
otherwise required by applicable laws.
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SOURCE Huntsman Corporation