Huntsman shops $300 million eight-year notes; pricing Wednesday

By Paul Deckelman

New York, Oct. 29 – Huntsman Corp. announced plans on Wednesday to sell $300 million of senior notes due 2022, via its wholly owned subsidiary, Huntsman International Inc.

High-yield syndicate sources said that the notes would be marketed to potential investors via an 11 a.m. ET conference call on Wednesday, with pricing expected sometime after that.

They said that the Rule 144A/Regulation S offering would be brought to market via bookrunner J.P. Morgan Securities LLC.

The notes are expected to carry B1/B+ ratings.

Huntsman, a specialty chemicals manufacturer based in the Woodlands, Texas, intends to use the proceeds of the planned offering to redeem a portion of its outstanding 8 5/8% senior subordinated notes due 2020, to pay associated accrued interest and for general corporate purposes.

According to its most recent regulatory filings, Huntsman had $350 million of the 2020 notes outstanding as of Sept. 30.

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