New Issue: Huntsman prices $380 million seven-year notes to yield 11 7/8%

By Paul A. Harris

St. Louis, Sept. 16 - Huntsman LLC sold $380 million of 11 5/8% senior secured notes due Oct. 15, 2010 (B2/B) at 98.815 on Tuesday to yield 11 7/8%, according to a syndicate source.

Price talk was for a yield in the 11¾% area.

The Salt Lake City-based petrochemical company's notes sale raised $375.497 million of proceeds.

Credit Suisse First Boston and Deutsche Bank Securities were joint bookrunners on the Rule 144A/Regulation S offering. CIBC World Markets, Citigroup, JP Morgan and UBS Investment Bank were co-managers.

Proceeds will be used to repay bank debt.

Issuer:	Huntsman LLC
Amount:	$380 million
Proceeds:	$375.497 million
Maturity:	Oct. 15, 2010
Security description:	Senior secured notes
Bookrunners:	Credit Suisse First Boston, Deutsche Bank Securities
Co-managers:	CIBC World Markets, Citigroup, JP Morgan, UBS Investment Bank
Coupon:	11 5/8%
Price:	98.815
Yield:	11 7/8%
Spread:	819 basis points over 5¾% Treasury due August 2010
Call features:	Callable after Oct. 15, 2007 at 105.813, then 102.906, declining to par on Oct. 15 2009 and thereafter
Equity clawback:	Until October 15, 2006 at 111.625 for up to 35%
Settlement date:	Sept. 30 (T+10)
Ratings:	Moody's: B2
	Standard & Poor's: B
Rule 144A Cusip:	44701RAC4
Price talk:	11¾% area

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