Huntsman HY Offering Hits Market
March 11, 2010
Chemical provider Huntsman plans to issue $250 million in junk bonds to take out existing debt, the Woodlands, Texas-based company said late Wednesday.
Huntsman will offer as much as $250 million in senior subordinated notes due 2020 through its Huntsman International subsidiary and use the proceeds to buy back or redeem outstanding senior subordinated notes, the company said.
Lead underwriter Goldman Sachs could price the deal as early as today, according to KDP Investment Advisors.
Huntsman last issued bonds last September—$600 million in 5.5% senior notes due 2016. A few days later, it closed on a $500 million term loan C (LFN, Sept. 10, 2009).
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