Breaking News: Huntsman Corporation Announces $350 Million Senior Notes Offering with 5.700% Interest Rate for 2034
In a strategic move to manage its capital and liabilities, Huntsman Corporation (NYSE: HUN) has set the price for its $350 million senior notes offering, due in 2034. The offering, scheduled to close on September 26, 2024, will be offered at 99.640% of their principal amount with an annual interest rate of 5.700%.
The net proceeds from this offering will be allocated towards general corporate purposes, including the repayment of existing debt. A consortium of banks, led by BofA Securities, Citigroup Global Markets, and J.P. Morgan Securities, will manage the book-running for the offering. Interested parties can obtain copies of the prospectus supplement from the leading managers' offices.
Huntsman Corporation, a global manufacturer of specialized chemicals, reported revenues of approximately $6 billion in 2023. The company's recent financial performance includes reporting Q2 2024 adjusted EBITDA of $131 million, slightly above the Bloomberg consensus estimate. Despite challenges in various markets, Huntsman Corporation is actively considering mergers and acquisitions for both vertical and horizontal integration.
InvestingPro Insights:
- Market capitalization: $4.11 billion
- Revenue decrease: 13.26% over the last twelve months
- Dividend yield: 4.39%
- Stock price stability: Low volatility
- Profitability prediction: Expected to be profitable this year
For investors considering Huntsman Corporation, there are additional InvestingPro Tips available for detailed analysis. With the next earnings date set for October 31, 2024, market observers will be closely monitoring the company's financial trajectory and market valuation.
In conclusion, Huntsman Corporation's latest financial moves and market performance offer valuable insights for investors seeking stability and potential growth in their portfolios. Stay tuned for more updates on Huntsman Corporation's strategic developments and market positioning.