) is set to seek commitments for $100 million in aggregate
principal amount of additional term B loans through its
fully-owned subsidiary, Huntsman International LLC, which is the
Citigroup Global Markets Inc., the U.S.-based brokerage and
securities arm of banking behemoth
), will be the lead arranger for the additional term B loans.
HSBC Securities (USA) Inc., a subsidiary of
HSBC Holdings plc
), will be the co-manager for the additional term loans under the
credit agreement, dated as of Aug 16, 2005, as amended among the
borrower, the guarantors party and the lenders party.
JPMorgan Chase Bank, N.A, the actual trustee of
JPMorgan Chase & Co
), will be the administrative agent pursuant to which term loans
were previously extended to the Borrower (collectively, the
Existing Term Loans). The additional term B loans will be treated
as a single class with, and will hold same terms as, one or more
classes of Existing Term Loans had earlier.
Huntsman released its second-quarter 2013 results on Jul 31.
The company saw its second-quarter 2013 profit slide, as it had
to contend with pricing pressure in its titanium dioxide (TiO2)
The Utah-based company posted a profit of $47 million or 19
cents a share in the reported quarter, a 62% year-over-year
plunge. The bottom line was also hit by higher restructuring,
impairment and plant closing costs.
Barring one-time items (including restructuring charges),
earnings were 39 cents per share. That trailed the Zacks
Consensus Estimate by a penny and fell well below the year-ago
adjusted earnings of 61 cents a share.
Revenues fell roughly 3% year over year to $2,830 million in
the reported quarter, but managed to beat the Zacks Consensus
Estimate of $2,767 million. Higher sales in the textile effects
business was more than masked by declines across polyurethanes,
advanced materials and pigments franchises.
Huntsman currently carries a Zacks Rank #3 (Hold).
CITIGROUP INC (C): Free Stock Analysis Report
HSBC HOLDINGS (HBC): Free Stock Analysis
HUNTSMAN CORP (HUN): Free Stock Analysis
JPMORGAN CHASE (JPM): Free Stock Analysis
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