THE WOODLANDS, Texas,
July 14, 2017 /PRNewswire/
-- Huntsman Corporation (NYSE: HUN) and Venator Materials PLC
today announced that the previously announced private offering of
$375 million aggregate principal
amount of 5 ¾ % Senior Notes due 2025 (the "Notes") of their wholly
owned subsidiaries, Venator Finance S.à r.l. and Venator Materials
LLC, has been completed.
Proceeds from the offering of Notes were funded into escrow
pending the initial public offering of Venator Materials PLC and
will then be used to pay related fees and expenses, pay a dividend
or repay intercompany debt owed to Huntsman.
Peter Huntsman, President and CEO
of Huntsman stated, "This marks a major milestone in the process to
separate our Pigments and Additives business. We are pleased
to have a portion of the Venator financing already funded in
advance of the planned separation."
The Notes have not been and will not be registered under the
Securities Act of 1933, as amended (the "Securities Act") and may
not be offered or sold in the United
States absent registration or an applicable exemption from,
or in a transaction not subject to, the registration requirements
of the Securities Act and other applicable securities laws.
This press release is neither an offer to sell nor a
solicitation of an offer to buy the Notes or any other securities
and shall not constitute an offer to sell or a solicitation of an
offer to buy, or a sale of, the Notes or any other securities in
any jurisdiction in which such offer, solicitation or sale is
unlawful.
About Huntsman
Huntsman Corporation is a publicly
traded global manufacturer and marketer of differentiated chemicals
with 2016 revenues of approximately $10
billion. Its chemical products number in the thousands and
are sold worldwide to manufacturers serving a broad and diverse
range of consumer and industrial end markets. The company has more
than 100 manufacturing and R&D facilities in approximately 30
countries and employs approximately 15,000 associates within 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, volatile global economic conditions,
cyclical and volatile product markets, disruptions in production at
manufacturing facilities, reorganization or restructuring of
Huntsman's operations, any delay of, or other negative developments
affecting, the IPO of Venator Materials PLC, the ability to
implement cost reductions and manufacturing optimization
improvements in Huntsman businesses, to consummate or achieve the
expected benefits of the proposed transaction with Clariant and to
realize anticipated cost savings, and other 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