Huntsman repays $50 million of term debt, completes partial note redemption

By Sara Rosenberg

New York, Sept. 19 - Huntsman International LLC voluntarily prepaid $50 million under its senior secured term loan, using proceeds from its recently expanded accounts receivable securitization program, according to a company news release.

In addition, Huntsman Advanced Materials LLC completed the partial redemption of $25 million of its senior secured floating-rate notes.

"We continue to use available cash flow to reduce our indebtedness and to take steps to further reduce the interest cost of our outstanding debt. Since December of 2004, we have reduced our debt by approximately $450 million," said Kimo Esplin, executive vice president and chief financial officer, in the release.

"This is in addition to the amounts we repaid with the proceeds from our IPO and represents significant progress towards our $2 billion debt reduction goal."

Huntsman is a Salt Lake City-based manufacturer and marketer of differentiated and commodity chemicals.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.