Huntsman Corporation Secures $350 Million in Senior Notes
Huntsman Corporation's Senior Notes Offering
Huntsman Corporation (NYSE: HUN) proudly announces that its subsidiary, Huntsman International LLC, has successfully priced a substantial offering of $350 million in Senior Notes due in 2034. These notes are set to be sold to the public at an attractive rate of 99.640% of their principal amount, featuring an annual interest rate of 5.700%. The anticipated closing of this offering is expected shortly, ensuring a swift move towards enhancing the company’s financial flexibility.
Strategic Use of Proceeds
The funds raised from this offering will be directed towards general corporate purposes, with a key focus on repaying existing debt, thus allowing Huntsman to streamline its financial obligations and maintain a strong balance sheet. This strategic maneuver underscores Huntsman's commitment to optimizing its capital structure.
Leading Financial Institutions Involved
A range of prominent investment banks will play crucial roles in facilitating this offering. BofA Securities, Citigroup Global Markets, J.P. Morgan Securities, and several others will serve as joint book-running managers, while Barclays Capital, U.S. Bancorp Investments, and Zions Direct will be among the senior co-managers. Together, these institutions contribute to executing a smooth offering process, ensuring investor confidence in the transaction.
Looking Ahead: Future Opportunities
With the effective shelf registration statement already in place, Huntsman Corporation is ready to act on future financial instruments as needed. This proactive approach positions the company to capitalize on market opportunities as they arise, enhancing its capacity to innovate and grow. Investors can expect continued transparency through prospectus supplements and accompanying documentation that outline the details behind such offerings.
About Huntsman Corporation
Huntsman Corporation is a prominent global manufacturer and marketer of specialty chemicals, boasting impressive revenues of approximately $6 billion from ongoing operations in the recent past. The company’s extensive product line serves various consumer and industrial markets worldwide. Huntsman operates over 60 manufacturing and R&D facilities spread across around 25 countries, employing a diverse workforce of approximately 6,000 dedicated associates.
Frequently Asked Questions
What are the main uses for the proceeds from the Senior Notes?
The proceeds will primarily be used for general corporate purposes, focusing on repaying existing debt to strengthen the company's financial position.
What benefits can Huntsman Corporation gain from this offering?
This offering allows Huntsman to enhance its capital structure, reduce debt, and maintain financial flexibility for future growth initiatives.
Which financial institutions are involved in the Senior Notes offering?
The offering is being managed by several leading financial institutions including BofA Securities, Citigroup Global Markets, and J.P. Morgan Securities among others.
What is the interest rate on the newly issued Senior Notes?
The Senior Notes will bear an interest rate of 5.700% per annum, providing an attractive return for investors.
Where can potential investors find more information about the offering?
Investors can access additional details through the prospectus supplements and accompanying documents available from the managing financial institutions involved in the offering.
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