New Issue: Huntsman International upsizes seven-year notes to $300 million, yield 9 7/8%

By Paul A. Harris

St. Louis, Mo., March 18 - Huntsman International LLC upsized to $300 million its offering of senior notes due March 15, 2009 (B3/B) from an announced size of $250 million, according to a syndicate source. The Rule 144A notes priced Monday at par to yield 9 7/8%.

Unofficial price talk was for a yield in the 10% area, according to a market source.

Deutsche Banc Alex. Brown was the bookrunner. J.P. Morgan and Salomon Smith Barney were co-managers.

The Salt Lake City, Utah specialty chemical company will use the proceeds from its new senior notes to repay bank debt.

Issuer:	Huntsman International LLC
Amount:	$300 million (increased from $250 million)
Maturity:	March 15, 2009
Type:	Senior notes
Bookrunner:	Deutsche Banc Alex. Brown
Coupon:	9 7/8%
Price:	Par
Yield:	9 7/8%
Spread:	470 basis points over the 5½% Treasury due May, 2009
Call features:	Callable with a make-whole call at Treasuries plus 50 basis points until March 15, 2006, then at 104.938, 102.469, declining to par on March 15, 2008 and thereafter
Equity clawback:	Until March 15, 2005 for 40% and 109.875
Settlement date:	March 21, 2002 flat
Ratings:	Moody's: B3
	Standard & Poor's: B
Rule 144A CUSIP:	44701QAD4

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