By Paul A. Harris
St. Louis, Feb. 23 - Huntsman International LLC privately placed a $147 million add-on to its existing 7 7/8% senior subordinated notes due Nov. 15, 2014 (B3/B) at 104 on Thursday, resulting in a 7.01% yield, according to a market source. The pricing resulted in proceeds of $152.88 million.
The issue price came on top of the price talk.
Deutsche Bank was the placement agent.
Proceeds will be used to redeem euro-denominated notes.
The original $200 million issue priced at par in November 2006.
Huntsman is a Salt Lake City chemical company.
| Issuer: | Huntsman International LLC
|
| Face amount: | $147 million
|
| Proceeds: | $152.88 million
|
| Maturity: | Nov. 15, 2014
|
| Security description: | Add-on to 7 7/8% senior subordinated notes
|
| Placement agent: | Deutsche Bank Securities
|
| Coupon: | 7 7/8%
|
| Price: | 104
|
| Yield: | 7.01%
|
| First call: | Nov. 15, 2010 at 103.938
|
| Trade date: | Feb. 22
|
| Ratings: | Moody's: B3
|
| Standard & Poor's: B
|
| Distribution: | Private placement
|
| Price talk: | 104 area
|
| Original issue: | $200 million issue priced at par in November 2006
|
| Total issue size: | $347 million
|
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