Home / Knowledge / News / Textiles / Huntsman announces redemption of 11.5% senior notes due 2012
Huntsman announces redemption of 11.5% senior notes due 2012
07
Jul '09
Huntsman Corporation announced that its wholly owned subsidiary, Huntsman International LLC, has sent a notice of redemption to holders of all outstanding 11.5% Senior Notes due 2012 of which $198 million was outstanding as of March 31, 2009. The Senior Notes will be redeemed August 3, 2009 at a price of 102.875% plus accrued and unpaid interest.

Previously, Huntsman International LLC, sent a notice of redemption to holders of all outstanding 11.625% Senior Secured Notes due 2010 of which $295 million was outstanding as of March 31, 2009. The Senior Secured Notes will be redeemed July 23, 2009 at a price of 102.906% plus accrued and unpaid interest.

Commenting on the redemptions, Kimo Esplin, EVP and CFO, stated: "Following our settlement with the banks for more than $1.7 billion in cash and financing we are reducing our highest cost and nearest term maturities of debt. This debt reduction will eliminate all meaningful debt maturities until 2013. Annual interest expense savings are approximately $60 million and when compared to the low cost financing received through the settlement for the same amount the net annual interest expense savings is greater than $30 million."

Huntsman Corporation

Must ReadView All

Courtesy: Alibaba

Apparel/Garments | On 21st Feb 2017

Alibaba announces retail partnership with Bailian Group

Chinese e-commerce giant Alibaba Group has made another move in its...

Textiles | On 21st Feb 2017

GST to reduce documentation for logistics firms: CBRE

The Goods and Services Tax (GST) is likely to result in a reduction...

Apparel/Garments | On 21st Feb 2017

Govt may free up retail FDI for domestic goods

Government may remove restrictions on retailers like Walmart and...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search