Huntsman Corporation (NYSE:HUN) Files An 8-K Entry into a Material Definitive Agreement

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Huntsman Corporation (NYSE:HUN) Files An 8-K Entry into a Material Definitive Agreement

Item1.01 Entry into a Material Definitive Agreement.

On June15, 2017, Huntsman International LLC
(HI), a wholly-owned subsidiary of Huntsman
Corporation, entered into the SeventeenthAmendment to Credit
Agreement (the Amendment) with JPMorgan Chase
Bank, N.A., as administrative agent, and the other lenders party
thereto (the Lenders).

Among other things, the Amendment provides for: (i)permission to
enter into certain transactions in connection with the
anticipated initial public offering (the IPO) of
Venator Materials PLC, a public limited company organized under
the laws of England and Wales (Venator) and
wholly-owned subsidiary of HI formed for the purpose of holding
the Pigments and Additives business (such transactions, the
Venator IPO Transactions); and (ii)permission to
consummate the previously announced merger of Huntsman
Corporation with a wholly owned subsidiary of Clariant Ltd., a
Swiss corporation (Clariant), to the Agreement
and Plan of Merger, dated as of May21, 2017, by and among
Clariant, HurricaneCyclone Corporation, a Delaware corporation
and wholly owned subsidiary of Clariant, and Huntsman
Corporation.

In connection with the Venator IPO Transactions, the Amendment,
among other things: (i)allows for the incurrence of certain
indebtedness of Venator to be held in escrow pending the
effectiveness of the IPO; (ii)permits the internal restructuring
of the Pigments and Additives assets, including assets of Venator
in the United States to a non-guarantor restricted subsidiary;
(iii)upon occurrence of the IPO, provides for the designation of
Venator and its subsidiaries as unrestricted subsidiaries; and
(iv)requires a mandatory repayment of $450 million of existing
term loan indebtedness within 30 days of the occurrence of the
IPO.

The foregoing does not constitute a complete summary of the terms
of the Amendment. The description of the terms of the Amendment
is qualified in its entirety by reference to such agreement,
attached hereto as Exhibit10.1 and incorporated herein by
reference.

Item2.03Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
Registrant.

The information included in Item1.01 is incorporated herein by
reference.

Item9.01 Financial Statements and Exhibits.

(d) Exhibits.

ExhibitNumber

Description

10.1

Seventeenth Amendment to Credit Agreement, dated as of
June15, 2017, among Huntsman International LLC, the lenders
from time to time party thereto, and JPMorgan Chase Bank,
N.A., as administrative agent.




HUNTSMAN INTERNATIONAL LLC Exhibit
EX-10.1 2 a17-15368_1ex10d1.htm EX-10.1 Exhibit 10.1   Execution Version   SEVENTEENTH AMENDMENT TO CREDIT AGREEMENT   This SEVENTEENTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”),…
To view the full exhibit click here
About Huntsman Corporation (NYSE:HUN)

Huntsman Corporation is a manufacturer of differentiated organic chemical products and of inorganic chemical products. The Company operates all of its businesses through its subsidiary, Huntsman International LLC (Huntsman International). It operates in five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives. Its Polyurethanes, Performance Products, Advanced Materials and Textile Effects segments produce differentiated organic chemical products, and its Pigments and Additives segment produces inorganic chemical products. Its products consist of a range of chemicals and formulations, which the Company markets to consumer and industrial customers. Its products are used in a range of applications, including those in the adhesives, aerospace, automotive, construction products, personal care and hygiene, electronics, medical, packaging, paints and coatings, power generation, synthetic fiber, textile chemicals and dye industries.

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