Huntsman Prepays $100 Million in Bank Debt
Monday June 6, 8:00 am ET
SALT LAKE CITY, June 6 /PRNewswire-FirstCall/ -- Huntsman Corporation announced today that it has made a $100 million dollar equivalent voluntary prepayment to certain of its senior secured bank credit facilities. The prepayment was made pursuant to the terms of the Term B Loan portion of the Huntsman International LLC credit agreement dated July 13, 2004, as amended.
Kimo Esplin, Executive Vice President and Chief Financial Officer, noted, "This prepayment is consistent with our overall financial strategy in which our top priority is reduce our indebtedness by approximately $2 billion over the next two to three years."
Huntsman is a global manufacturer and marketer of commodity and differentiated chemicals. Its operating companies manufacture basic products for a variety of global industries including chemicals, plastics, automotive, aviation, footwear, paints and coatings, construction, technology, agriculture, health care, textiles, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging, and later, rapid and integrated growth in petrochemicals, Huntsman today has revenues of $11.5 billion, 11,300 employees and 62 operations in 22 countries.
Statements in this release that are not historical are forward-looking statements. These statements are based on management's current beliefs and expectations. The forward-looking statements in this release are subject to uncertainty and changes in circumstances and involve risks and uncertainties that may affect the company's operations, markets, products, services, prices and other factors as discussed in the Huntsman companies' filings with the Securities and Exchange Commission. Significant risks and uncertainties may relate to, but are not limited to, financial, economic, competitive, environmental, political, legal, regulatory and technological factors. Accordingly, there can be no assurance that the company's expectations will be realized. The company assumes no obligation to provide revisions to any forward-looking statements should circumstances change, except as otherwise required by securities and other applicable laws.
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