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Huntsman (HUN) Prices Senior Notes Offering Worth $400 Million
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Huntsman Corporation (HUN - Free Report) has announced that its fully-owned subsidiary, Huntsman International LLC, has set a price for its offering of $400 million in the total principal amount of Senior Notes due 2031.
The public will be offered the notes at a price of 99.930% of their principal amount and an interest rate of 2.950% per annum. The offering is expected to close on May 26, 2021.
Huntsman, which is among the prominent players in the chemical space along with Dow Inc. (DOW - Free Report) , Cabot Corporation (CBT - Free Report) and Olin Corporation (OLN - Free Report) , plans to use the net proceeds from the offering, together with the available cash, to fully redeem the $400 million in total principal amount of its 5.125% Senior Notes due 2022. Also, it intends to pay the accrued interest, premiums, fees and expenses.
The offering, made under a shelf registration statement, became automatically effective on Feb 25, 2019. Some of the joint book-running managers of this offering are Citigroup Global Markets Inc., Barclays Capital Inc. and Goldman Sachs & Co. LLC. BMO Capital Markets Corp., ICBC Standard Bank Plc and RBC Capital Markets, LLC are some of the senior co-managers.
Huntsman’s earnings growth rate for the current year is pegged at 176.5%. In the first quarter, the company recorded adjusted earnings of 66 cents per share, topping the Zacks Consensus Estimate of 59 cents. The top line of $1,837 million recorded 15% growth year over year, surpassing the Zacks Consensus Estimate of $1,745.3 million.
Huntsman said that its strong liquidity and balance sheet leverage gives it adequate flexibility to continue developing and expanding its core businesses through acquisitions and internal investments. The company also remains on track to deliver more than $120 million of annualized savings and acquisition integration synergies by mid-2023.
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Huntsman (HUN) Prices Senior Notes Offering Worth $400 Million
Huntsman Corporation (HUN - Free Report) has announced that its fully-owned subsidiary, Huntsman International LLC, has set a price for its offering of $400 million in the total principal amount of Senior Notes due 2031.
The public will be offered the notes at a price of 99.930% of their principal amount and an interest rate of 2.950% per annum. The offering is expected to close on May 26, 2021.
Huntsman, which is among the prominent players in the chemical space along with Dow Inc. (DOW - Free Report) , Cabot Corporation (CBT - Free Report) and Olin Corporation (OLN - Free Report) , plans to use the net proceeds from the offering, together with the available cash, to fully redeem the $400 million in total principal amount of its 5.125% Senior Notes due 2022. Also, it intends to pay the accrued interest, premiums, fees and expenses.
The offering, made under a shelf registration statement, became automatically effective on Feb 25, 2019. Some of the joint book-running managers of this offering are Citigroup Global Markets Inc., Barclays Capital Inc. and Goldman Sachs & Co. LLC. BMO Capital Markets Corp., ICBC Standard Bank Plc and RBC Capital Markets, LLC are some of the senior co-managers.
Huntsman’s earnings growth rate for the current year is pegged at 176.5%. In the first quarter, the company recorded adjusted earnings of 66 cents per share, topping the Zacks Consensus Estimate of 59 cents. The top line of $1,837 million recorded 15% growth year over year, surpassing the Zacks Consensus Estimate of $1,745.3 million.
Huntsman said that its strong liquidity and balance sheet leverage gives it adequate flexibility to continue developing and expanding its core businesses through acquisitions and internal investments. The company also remains on track to deliver more than $120 million of annualized savings and acquisition integration synergies by mid-2023.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>