Huntsman Prices Additional $250 Million Offering at 4.875%
Mar 1st 2013 12:11PM
Updated Mar 1st 2013 1:30PM
Specialty chemicals maker Huntsman priced a $250 million offering in additional senior notes through its wholly owned subsidiary, Huntsman International LLC, the company said yesterday.
The 4.875% senior notes will mature in 2020 and are being offered as additional notes under an indenture it has with Wells Fargo that it issued this past November for $400 million in aggregate principal amount.
The new notes will be treated as a single whole with the original notes and will have the same terms as they do. The offering will be issued at a price of 98.5% and carry an interest rate of 4.875%. They will mature on Nov. 15, 2020.
Huntsman expects the closing of the offering to occur on March 4 and anticipates using the net proceeds to redeem $200 million of its 5-1/2% senior notes due in 2016 and to pay associated accrued interest and for general corporate purposes.
The article Huntsman Prices Additional $250 Million Offering at 4.875% originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool recommends Wells Fargo. The Motley Fool owns shares of Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.