Huntsman placing $146 million add-on to 7 7/8% notes due November 2014

By Paul A. Harris

St. Louis, Feb. 22 - Huntsman International LLC is privately placing a $146 million add-on to its existing 7 7/8% senior subordinated notes due Nov. 15, 2014 (existing ratings B3/B), according to market sources.

Earlier in the day a source from a hedge fund told Prospect News that the deal was talked at the 104.0 area, which would result in a 7.01% yield.

The source added that the books were set to close at noon ET on Thursday.

Deutsche Bank is the placement agent.

The notes become callable on Nov. 15, 2010 at 103.938.

The original $200 million issue priced at par in November 2006.

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