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Huntsman Prices $350 Million of Senior Notes

HUN | 2 hours ago

THE WOODLANDS, Texas, Sept. 24, 2024 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) today announced that its wholly-owned subsidiary, Huntsman International LLC, has priced its offering of $350 million in aggregate principal amount of Senior Notes due 2034. The notes will be offered to the public at a price of 99.640% of their principal amount and will bear interest at a rate of 5.700% per annum. Huntsman expects the offering to close on September 26, 2024, subject to customary closing conditions.

Huntsman intends to use the net proceeds from the offering for general corporate purposes, including repayment of debt.

BofA Securities, Inc.; Citigroup Global Markets Inc.; J.P. Morgan Securities LLC; BMO Capital Markets Corp.; HSBC Securities (USA) Inc.; ICBC Standard Bank Plc; MUFG Securities Americas Inc.; PNC Capital Markets LLC; TD Securities (USA) LLC; and Truist Securities, Inc. are acting as the joint book-running managers for the offering. Barclays Capital Inc.; U.S. Bancorp Investments, Inc.; and Zions Direct, Inc. are acting as the senior co-managers for the offering, and Academy Securities, Inc. is acting as the co-manager for the offering.

The offering was made under an effective shelf registration statement that was filed with the U.S. Securities and Exchange Commission and became automatically effective on August 9, 2024. The offering of the notes may be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from BofA Securities, Inc. by calling toll-free at 1-800-294-1322, Citigroup Global Markets Inc. by calling toll-free at 1-800-831-9146 or from J.P. Morgan Securities LLC by calling collect at 1-212-834-4533.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the notes in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

About Huntsman:
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2023 revenues of approximately $6 billion from our continuing operations. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 60 manufacturing, R&D and operations facilities in approximately 25 countries and employ approximately 6,000 associates within our continuing operations.

Forward-Looking Statements:
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include statements concerning our plans, objectives, goals, strategies, future events, future revenue or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, divestitures or strategic transactions, business trends and any other information that is not historical information. When used in this press release, the words "estimates," "expects," "anticipates," "likely," "projects," "outlook," "plans," "intends," "believes," "forecasts," or future or conditional verbs, such as "will," "should," "could" or "may," and variations of such words or similar expressions are intended to identify forward-looking statements. These forward-looking statements, including, without limitation, management's examination of historical operating trends and data, are based upon our current expectations and various assumptions and beliefs. In particular, such forward-looking statements are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect our operations, markets, products, prices and other factors as discussed in our filings with the U.S. Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, high energy costs in Europe, inflation and high capital costs, geopolitical instability, volatile global economic conditions, cyclical and volatile product markets, disruptions in production at manufacturing facilities, reorganization or restructuring of our operations, including any delay of, or other negative developments affecting the ability to implement cost reductions and manufacturing optimization improvements in our businesses and to realize anticipated cost savings, and other financial, operational, economic, competitive, environmental, political, legal, regulatory and technological factors. Any forward-looking statement should be considered in light of the risks set forth under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023, which may be supplemented by other risks and uncertainties disclosed in any subsequent reports filed or furnished by us from time to time. All forward-looking statements apply only as of the date made. Except as required by law, we undertake no obligation to update or revise forward-looking statements to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.