Huntsman Advanced Materials calls 11% senior secured notes

By Angela McDaniels

Seattle, Nov. 18 - Huntsman Corp. said its subsidiary Huntsman Advanced Materials LLC is calling all of its outstanding 11% senior secured notes due 2010 for redemption on Dec. 20.

The redemption is conditioned on the company raising sufficient new financing to redeem the notes, the company said.

Roughly $250 million principal amount of the notes is outstanding.

This action is in addition to Advanced Materials' call on Nov. 11 for the remaining $25 million principal amount of its floating-rate senior secured notes due 2008 for redemption on Dec. 12.

Based in Salt Lake City, Huntsman is a manufacturer and marketer of differentiated and commodity chemicals. Huntsman Advanced Materials is based in Everberg, Belgium.

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