Huntsman launches $200 million add-on to extended term loan B

By Sara Rosenberg

New York, Feb. 28 - Huntsman International LLC held a call at 2:45 p.m. ET on Thursday to launch a $200 million add-on (Ba1/BB+) to its existing $637 million extended term loan B due 2017, according to market sources.

J.P. Morgan Securities LLC is the lead bank on the deal.

Pricing on the add-on, as well as on the existing loan, is Libor plus 250 basis points, sources said.

The add-on is talked with an original issue discount of 99 to 991/2, sources added.

Proceeds will be used to refinance an existing $193 million non-extended term loan B due 2014 that is priced at Libor plus 150 bps.

Huntsman is a Salt Lake City-based manufacturer of differentiated organic and inorganic chemical products.

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