THE WOODLANDS, Texas,
Dec. 20, 2010 /PRNewswire/ --
Huntsman Corporation (NYSE: HUN) today announced that it gave
notice to redeem $100 million of its
7 3/8% senior subordinated notes due 2015 pursuant to the terms of
the indenture. The redemption is expected to be completed in
January 2011.
Kimo Esplin, EVP and CFO of
Huntsman Corporation, stated, "During 2010 we have extended the
maturity of our revolving credit facility by four years and
refinanced approximately $900 million
of senior subordinated debt extending these maturities by almost
seven years. We have a strong liquidity position and project
favourable free cash flow generation on the horizon. We are
committed to further reducing indebtedness in the future."
About Huntsman:
Huntsman is a global manufacturer and marketer of
differentiated chemicals. Its operating companies manufacture
products for a variety of global industries, including chemicals,
plastics, automotive, aviation, textiles, footwear, paints and
coatings, construction, technology, agriculture, health care,
detergent, personal care, furniture, appliances and packaging.
Originally known for pioneering innovations in packaging and,
later, for rapid and integrated growth in petrochemicals, Huntsman
has approximately 11,000 employees and operates from multiple
locations worldwide. The Company had 2009 revenues of approximately
$8 billion. For more information
about Huntsman, please visit the company's website at
www.huntsman.com.
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.
SOURCE Huntsman Corporation