Huntsman CORP — Capital/Financing Update 2017

Dec 11, 2017

8-K 1 a17-28271_18k.htm 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): December 5, 2017

Huntsman Corporation

(Exact name of registrant as specified in its charter)

Delaware	001-32427	42-1648585
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

Huntsman International LLC

(Exact name of registrant as specified in its charter)

Delaware	333-85141	87-0630358
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

10003 Woodloch Forest Drive
The Woodlands, Texas	77380
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code:

(281) 719-6000

Not applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

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Item 8.01. Other Events.

On December 4, 2017, Huntsman Corporation (“Huntsman”) issued a press release announcing that it successfully completed its secondary public offering of Venator Materials PLC, a subsidiary of Huntsman, and received net proceeds of approximately $471 million. On December 5, 2017, Huntsman used these proceeds, together with cash on the balance sheet, to repay in full the $511 million remaining on its Term Loan B due 2023. Huntsman no longer has any senior secured term loans outstanding under its senior credit facilities, but will continue to have access to its revolving credit facility, which remains undrawn. The reduction of Huntsman’s debt will reduce annual cash interest expense by approximately $20 million on an annual basis, which is in addition to the previously disclosed approximately $70 million of annualized interest savings achieved this year as a result of prior debt repayments.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Huntsman Corporation
Huntsman International LLC
By:	/s/ Brandon M. Gray
Name:	Brandon M. Gray
Title:	Vice President and Treasurer

Date: December 11, 2017

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