New Issue: Huntsman sells upsized $400 million 4 7/8% eight-year notes at par

By Paul A. Harris

Portland, Ore., Nov. 2 - Huntsman International LLC priced an upsized $400 million issue of non-callable eight-year senior notes (B1/BB-/) at par to yield 4 7/8% on Friday, according to a syndicate source.

The yield printed at the wide end of 4¾% to 4 7/8% yield talk.

Bank of America Merrill Lynch, Barclays, Citigroup Global Markets Inc., Goldman Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC and Wells Fargo Securities LLC were the joint bookrunners for the quick-to-market deal, which was upsized from $300 million.

The Salt Lake City-based specialty chemicals company plans to use the proceeds, including the upsize amount, to fund a partial redemption of its senior notes due 2016.

Issuer:	Huntsman International LLC
Amount:	$400 million, increased from $300 million
Maturity:	Nov. 15, 2020
Securities:	Senior notes
Bookrunners:	Bank of America Merrill Lynch, Barclays, Citigroup Global Markets Inc., Goldman Sachs & Co., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, RBC Capital Markets, LLC, Wells Fargo Securities LLC
Co-managers:	PNC Capital Markets LLC, RBS Securities Inc.
Coupon:	4 7/8%
Price:	Par
Yield:	4 7/8%
Spread:	351 bps
Call protection:	Non-callable
Make-whole:	Treasuries plus 50 bps
Change-of-control put:	101%
Trade date:	Nov. 2
Settlement date:	Nov. 19
Ratings:	Moody's: B1
	Standard & Poor's: BB-
Distribution:	Rule 144A and Regulation S with registration rights
Price talk:	4¾% to 4 7/8%
Marketing:	Quick to market

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