Huntsman extends solicitation of consents for 11 5/8% notes

New York, July 6 - Huntsman Corp. said its Huntsman LLC subsidiary has extended its solicitation of consents from holders of its 11 5/8% senior secured notes due 2010 to 5 p.m. ET on July 7 from 5 p.m. ET on July 6.

An earlier consent solicitation for the 11½% senior notes due 2012 and senior floating-rate notes due 2011 already expired at 5 p.m. ET on July 5 when the solicitation for the 11 5/8% was last extended.

Huntsman previously said on July 1 that it was extending the solicitation of consents for all three series of notes to 5 p.m. ET on July 5.

Huntsman has received the necessary majority of consents for the senior notes but not for the senior secured notes.

On June 17 Huntsman said it had begun soliciting consents from holders of the notes as part of a proposed merger of Huntsman LLC into Huntsman International LLC.

The two subsidiaries are currently financed separately and report to the Securities and Exchange Commission separately.

By merging the two, Huntsman will simplify its financing and SEC reporting. The transaction will also allow for lower interest rate costs in the company's bank facility and other financing arrangements.

Once noteholder consents are received, Huntsman will look to obtain a new credit facility for the subsidiaries.

Huntsman is a Salt Lake City-based chemical company.

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