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

Pic: Shutterstock

Apparel/Garments | On 19th Aug 2019

Hanoi considers safeguards for apparel sector under CPTPP

Vietnam's ministry of industry and trade is drafting a circular to...

Pic: Shutterstock

Apparel/Garments | On 19th Aug 2019

Cambodia's footwear sector ready for investment: ILO

Cambodia's footwear sector will provide more opportunities for...

Pic: Future Fashion factory

Fashion | On 19th Aug 2019

Future Fashion Factory selects 9 projects for funding

Nine projects - involving bespoke tailors to fashion brands to...

Interviews View All

Anshul Sood, Oceedee

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Subhashini Srinivasan, The S Studio

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Claudia Kersten, Global Organic Textile Standard

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Francesco Gozio,

Francesco Gozio

Italian company Marzoli is a leading manufacturer of the complete line of...

Liz Manning,

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Rajesh Pratap Singh, Rajesh Pratap Singh

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

Leave your Comments


August 2019

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

news category


Related Categories:

Advanced Search