Huntsman Corporation (NYSE:HUN) Files An 8-K Other Events

ME Staff 8-k
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Huntsman Corporation (NYSE:HUN) Files An 8-K Other Events
Item 8.01.Other Events.

On December4, 2017, Huntsman Corporation (“Huntsman”) issued a press release announcing that it successfully completed its secondary public offering of Venator Materials PLC, a subsidiary of Huntsman, and received net proceeds of approximately $471 million. On December5, 2017, Huntsman used these proceeds, together with cash on the balance sheet, to repay in full the $511 million remaining on its Term Loan B due 2023. Huntsman no longer has any senior secured term loans outstanding under its senior credit facilities, but will continue to have access to its revolving credit facility, which remains undrawn. The reduction of Huntsman’s debt will reduce annual cash interest expense by approximately $20 million on an annual basis, which is in addition to the previously disclosed approximately $70 million of annualized interest savings achieved this year as a result of prior debt repayments.


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.