New Issue: Huntsman International sells upsized $350 million 10-year notes at par to yield 8 5/8%

By Paul A. Harris

St. Louis, March 12 - Huntsman International LLC priced an upsized $350 million issue of 10-year senior subordinated notes (Ba3/CCC+/) at par to yield 8 5/8% on Friday, according to an informed source.

The yield printed at the tight end of the 8¾% area price talk.

Goldman Sachs & Co. was the left bookrunner for the issue, which was upsized from $250 million.

J.P. Morgan Securities Inc., Bank of America Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc. and Credit Suisse were the joint bookrunners.

Proceeds from the issue will be used to repurchase some of the company's outstanding senior subordinated notes.

The issuer is a subsidiary of Huntsman Corp., a chemical company based in the Woodlands, Texas.

Issuer:	Huntsman International LLC (Huntsman Corp.)
Amount:	$350 million, increased from $250 million
Maturity:	March 15, 2020
Securities:	Senior subordinated notes
Left bookrunner:	Goldman Sachs & Co.
Joint bookrunners:	J.P. Morgan Securities Inc., Bank of America Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse
Coupon:	8 5/8%
Price:	Par
Yield:	8 5/8%
Spread:	490 bps
Call features:	Callable on March 15, 2015 at 104.3125, 102.8750, 101.4375, par on and after March 15, 2018
Trade date:	March 12
Settlement date:	March 17
Ratings:	Moody's: Ba3
	Standard & Poor's: CCC+
Distribution:	Rule 144A with registration rights
Price talk:	8¾% area

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