THE WOODLANDS, Texas,
Oct. 28 /PRNewswire-FirstCall/ --
Huntsman Corporation (NYSE: HUN) today announced that it has priced
an issuance of $180 million principal
amount of 8 5/8% senior subordinated notes due 2021 through its
wholly owned subsidiary, Huntsman International LLC, at a price to
investors of 108% of the principal amount plus accrued interest,
for an effective yield of approximately 7 1/4%. The offered
notes will have the same terms as the $350
million principal amount of 8 5/8% senior subordinated notes
due 2021 issued by Huntsman International in September 2010.
The closing of the offering is expected to occur on November 12, 2010, subject to the satisfaction of
customary closing conditions. Huntsman intends to use the net
proceeds to redeem all $188 million
principal amount of its outstanding 7 7/8% senior subordinated
notes due 2014, including the payment of accrued interest and
redemption premiums.
The notes to be offered have not been registered under the
Securities Act of 1933 (the "Securities Act"), or any state
securities laws; and unless so registered, the notes may not be
offered or sold in the United
States except pursuant to an exemption from, or in a
transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws. The notes will
be offered only to qualified institutional buyers in accordance
with Rule 144A and outside the United
States in accordance with Regulation S.
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.
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. In
addition, the completion of any transactions described in this
release is subject to a number of uncertainties and closing will be
subject to approvals and other customary conditions. Accordingly,
there can be no assurance that such transactions will be completed
or that the company's expectations will be realized. The company
assumes no obligation to provide revisions to any forward-looking
statements should circumstances change, except as otherwise
required by applicable laws.
SOURCE Huntsman Corporation
Copyright . 28 PR Newswire