Huntsman Corp. has completed a $350 million offering of senior subordinated notes due 2020, and will incur about $9 million in charges in the first quarter related to paying off some debt early.
The notes were offered through wholly owned subsidiary, Huntsman International.
The chemical maker said late Thursday that it plans to use the offering's net proceeds to refinance about 184 million euros ($251.2 million) of senior subordinated notes due 2013 and approximately 59 million euros ($80.5 million) of senior subordinated notes due 2015 through the use of some $350 million five-year contracts.
Executive Vice President and CFO Kimo Esplin said in a statement that refinancing the notes extends their maturity by more than five years, giving the company more breathing room on some of its financial obligations.
