Huntsman talks $350 million 10.5-year notes with 8¾% area yield

By Paul A. Harris

St. Louis, Sept. 13 - Huntsman International LLC talked its $350 million offering of 10.5-year senior subordinated notes (expected ratings B3/CCC+) with an 8¾% area yield, according to a market source.

The offering is expected to price on Tuesday.

Goldman Sachs & Co. is the left lead bookrunner for the Rule 144A and Regulation S with registration rights offering. Bank of America Merrill Lynch, Barclays Capital Inc., Citigroup Global Markets Inc., Credit Suisse Securities, HSBC and J.P. Morgan Securities Inc. are the joint bookrunners.

The notes come with five years of call protection.

Proceeds will be used to fund the tender for a portion of company's existing 7 7/8% senior subordinated notes due 2014 and the euro-denominated 6 7/8% notes.

The prospective issuer is a chemical company base in the Woodlands, Texas.

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