Huntsman refinances €243 million total senior subordinated notes

By Jennifer Chiou

New York, March 18 - Huntsman Corp. announced that it used the net proceeds of a notes offering to refinance about €184 million of its senior subordinated notes due 2013 and €59 million of its senior subordinated notes due 2015 through the use of $350 million notional amount of five-year euro/dollar cross currency swaps contracts.

These contracts result in a weighted average effective euro interest rate of 8.42% per year for the next five years.

Huntsman said it completed the issue of $350 million of 8 5/8% senior subordinated notes due 2020 through its wholly owned subsidiary, Huntsman International LLC.

The chemical company is based in the Woodlands, Texas.

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