Huntsman International gets $1.2 billion sustainability-linked revolver

By Wendy Van Sickle

Columbus, Ohio, May 20 – Huntsman Corp. wholly owned subsidiary Huntsman International LLC entered into a new credit agreement providing for a $1.2 billion unsecured sustainability-linked revolving credit facility, replacing its existing unsecured revolver of the same size, according to a news release.

The new credit facility is scheduled to mature on May 20, 2027 and has improved terms and lower fees over the prior revolver, the company reported.

Additionally, the credit agreement contains provisions to extend the maturity by up to two more years and to increase the facility size by $500 million.

The sustainability-linked feature includes adjustments to the commitment fee and borrowing rate based on the company’s performance in intensity reductions for both greenhouse gas emissions and water consumption.

Citibank NA is the administrative agent and a joint lead arranger and co-sustainability agent along with BofA Securities, Inc., PNC Capital Markets LLC, TD Securities (USA) LLC and Truist Securities, Inc.

Bank of America, NA, PNC Bank, NA, Toronto-Dominion Bank, New York Branch and Truist Bank are co-syndication agents, and BMO Harris Bank NA, Industrial and Commercial Bank of China Ltd., New York Branch, JPMorgan Chase Bank, NA and MUFG Bank, Ltd. are co-documentation agents.

Huntsman is a specialty chemicals manufacturer based in The Woodlands, Tex.

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