Huntsman plans to refinance bank debt with new $275 million revolver

By Sara Rosenberg

New York, July 30 - Huntsman Corp. plans to use a new $275 million revolving credit facility to refinance existing bank debt, according to a syndicate source. Deutsche Bank is the lead bank on the deal.

The new facility is an asset-based priority loan that has an interest rate of Libor plus 325 basis points, the syndicate source said.

The Salt Lake City, Utah chemical company's existing term loan will remain in place, the syndicate source added.

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