August 27, 2014 7:44 AM ET

Chemicals

Company Overview of Huntsman International LLC

Company Overview

Huntsman International LLC manufactures and sells organic and inorganic chemical products worldwide. The company operates in five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments. The Polyurethanes segment offers methyl diphenyl diisocyanate products, propylene oxide, polyols, propylene glycol, thermoplastic polyurethane, aniline, and methyl tertiary-butyl ether for use in refrigeration and appliance insulation, construction products, adhesives, automotive, footwear, furniture, cushioning, specialized engineering, and fuel additives applications. The Performance Products segment provides amines, surfactants, linear alkyl benzene, maleic anhydri...

500 Huntsman Way

Salt Lake City, UT 84108

United States

Founded in 1970

Phone:

801-584-5700

Key Executives for Huntsman International LLC

Chief Executive Officer
Age: 51
Founder
Age: 76
Chief Financial Officer
Age: 52
Chief Executive Officer of Asia Pacific and Division President of Polyurethanes
Age: 56
Division President of Textile Effects
Age: 57
Compensation as of Fiscal Year 2014.

Huntsman International LLC Key Developments

Huntsman International LLC Enters into the Twelfth Amendment to the Credit Agreement with JPMorgan Chase Bank, N.A

On August 13, 2014, Huntsman International LLC(HI) entered into the Twelfth Amendment to the Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent. The Amendments modified the Credit Agreement to, (x) fund the senior secured term loan facility in an aggregate principal amount of $1,200 million under the Credit Agreement into escrow and (y) increase the senior secured revolving commitment in an aggregate principal amount of $200 million under the Credit Agreement as of the effective date of the Eleventh Amendment. The New Term Loans, along with interest that will accrue on the New Term Loans through December 17, 2014, were funded into escrow pursuant to the Escrow and Security Agreement dated as of August 12, 2014 among Wilmington Trust, N.A., in its capacity as escrow agent, depositary bank and securities intermediary thereunder, HI and the Administrative Agent. Subject to the conditions set forth in the Credit Agreement and the Escrow Agreement, the proceeds of the New Term Loans will be used to pay the consideration in connection with the acquisition by HI of the Performance Additives and Titanium Dioxide business of Rockwood Specialties Group Inc., if the Acquisition is not consummated, to refinance certain indebtedness of HI and for other permitted purposes under the Credit Agreement. If the Release Conditions are not satisfied by December 17, 2014, the proceeds of the New Term Loans held by the Escrow Agent will be used to repay the lenders of the New Term Loans. To the extent that the Release Conditions are met, the New Term Loans will mature on the seventh anniversary of the date such New Term Loans are released from escrow and will amortize in aggregate annual amounts equal to 1% of the original principal amount of the New Term Loans, payable quarterly commencing with the first full fiscal quarter ended after the date such New Term Loans are released from escrow. The commitments under the Revolving Increase will mature on the same date as the existing revolving loans under the Credit Agreement. The New Term Loans bear interest at a rate per annum equal to an applicable margin plus, at the HI’s option, either LIBOR (which is subject to a 0.75% floor) or the base rate (which is subject to a 1.75% floor). The margin for borrowings under the New Term Loan Facility are 3.00% for LIBOR and 2.00% for base rate. Borrowings under the Revolving Increase will bear interest at the same rate as the existing revolving loans under the Credit Agreement.

Huntsman International Issues 145,000,000 in Aggregate Principal Amount of its 5.125% Senior Notes Due 2021

On June 2, 2014, Huntsman International LLC (HI) issued 145,000,000 in aggregate principal amount of its 5.125% Senior Notes due 2021, pursuant to an indenture entered into on December 23, 2013, by and among HI, the guarantors named therein, Citibank, N.A., London Branch, as paying agent, registrar and transfer agent, and Wilmington Trust, National Association, a national banking association, as trustee. The Notes were sold pursuant to a Purchase Agreement by and among HI, the Guarantors, and the initial purchasers party thereto. HI intends to use the net proceeds of the offering for general corporate purposes. The Notes are general unsecured senior obligations of HI and are guaranteed on a general unsecured senior basis by the Guarantors. The Notes were issued in a transaction exempt from the registration requirements of the Securities Act of 1933. The Indenture imposes certain limitations on the ability of HI and its subsidiaries to, among other things, incur additional indebtedness secured by any principal properties, incur indebtedness of non-guarantor subsidiaries, enter into sale and leaseback transactions with respect to any principal properties and consolidate or merge with or into any other person or lease, sell or transfer all or substantially all of its properties and assets. The Notes bear interest at the rate of 5 1/8% per year payable semi-annually on April 15 and October 15 of each year, beginning on October 15, 2014. The Notes will mature on April 15, 2021. HI may redeem the Notes in whole or in part at any time prior to January 15, 2021 at a price equal to 100% of the principal amount thereof plus a make-whole premium and accrued and unpaid interest and special interest, if any. HI may redeem the Notes in whole or in part on or after January 15, 2021 at a price equal to 100% of the principal amount thereof plus accrued and unpaid interest and special interest, if any.

Huntsman International Prices EUR 145.0 Million Private Offering of Additional 5.125% Senior Notes

Huntsman Corp. reported that it has priced a EUR 145.0 million in aggregate principal amount offering of additional 5.125% senior notes due 2021 through its subsidiary, Huntsman International. In its release on May 28, the company noted that the offering was increased from a previously announced size of EUR 100.0 million in aggregate principal amount of Notes. Huntsman said the Notes are being offered as additional notes under the indenture, dated as of Dec. 23, 2013, among the Issuer, the guarantors party thereto, Wilmington Trust, National Association, as trustee, and Citibank, N.A., London Branch, as paying agent, transfer agent, registrar and authenticating agent, pursuant to which the Issuer issued EUR 300.0 million in aggregate principal amount of its 5.125% Senior Notes due 2021 on Dec. 23, 2013. The Notes will be treated as a single series with, and will have the same terms as, the Initial Notes. The Notes will be issued at a price of 103.25% and carry an interest rate of 5.125% and will mature on April 15, 2021. The closing of the offering is expected to occur on June 2, subject to the satisfaction of customary closing conditions.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 17, 2013
Performance Additives and Titanium Dioxide Businesses
 

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