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Quarterly report pursuant to Section 13 or 15(d)

DEBT (Tables)

v2.4.0.8
DEBT (Tables)
 6 Months Ended
Jun. 30, 2014
Debt Ìý
Outstanding debt

Ìý

Outstanding debt consisted of the following (dollars in millions):

Ìý
Ìý
 Ìý JuneÌý30,
2014		 Ìý DecemberÌý31,
2013		 Ìý

Senior Credit Facilities:

 Ìý Ìý Ìý Ìý Ìý Ìý Ìý

Term loans

 Ìý $ 1,339 Ìý $ 1,351 Ìý

Amounts outstanding under A/R programs

 Ìý Ìý 245 Ìý Ìý 248 Ìý

Senior notes

 Ìý Ìý 1,258 Ìý Ìý 1,061 Ìý

Senior subordinated notes

 Ìý Ìý 890 Ìý Ìý 891 Ìý

HPS (China) debt

 Ìý Ìý 33 Ìý Ìý 40 Ìý

Variable interest entities

 Ìý Ìý 231 Ìý Ìý 247 Ìý

Other

 Ìý Ìý 70 Ìý Ìý 72 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � �

Total debt—excluding debt to affiliates

 Ìý $ 4,066 Ìý $ 3,910 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � �
� � � � � � � �
Ìý Ìý Ìý Ìý Ìý Ìý

Total current portion of debt

 Ìý $ 257 Ìý $ 277 Ìý

Long-term portion

 Ìý Ìý 3,809 Ìý Ìý 3,633 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � �

Total debt—excluding debt to affiliates

 Ìý $ 4,066 Ìý $ 3,910 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � �
� � � � � � � �
Ìý Ìý Ìý Ìý Ìý Ìý

Total debt—excluding debt to affiliates

 Ìý $ 4,066 Ìý $ 3,910 Ìý

Notes payable to affiliates—noncurrent

 Ìý Ìý 5 Ìý Ìý 6 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � �

Total debt

 Ìý $ 4,071 Ìý $ 3,916 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � �
� � � � � � � �
Ìý Ìý Ìý Ìý Ìý Ìý
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
 Ìý
Debt Ìý
Outstanding debt

Outstanding debt consisted of the following (dollars in millions):

Ìý
 Ìý JuneÌý30,
2014		 Ìý DecemberÌý31,
2013		 Ìý

Senior Credit Facilities:

 Ìý Ìý Ìý Ìý Ìý Ìý Ìý

Term loans

 Ìý $ 1,339 Ìý $ 1,351 Ìý

Amounts outstanding under A/R programs

 Ìý Ìý 245 Ìý Ìý 248 Ìý

Senior notes

 Ìý Ìý 1,258 Ìý Ìý 1,061 Ìý

Senior subordinated notes

 Ìý Ìý 890 Ìý Ìý 891 Ìý

HPS (China) debt

 Ìý Ìý 33 Ìý Ìý 40 Ìý

Variable interest entities

 Ìý Ìý 231 Ìý Ìý 247 Ìý

Other

 Ìý Ìý 70 Ìý Ìý 72 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � �

Total debt—excluding debt to affiliates

 Ìý $ 4,066 Ìý $ 3,910 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � �
� � � � � � � �
Ìý Ìý Ìý Ìý Ìý Ìý

Total current portion of debt

 Ìý $ 257 Ìý $ 277 Ìý

Long-term portion

 Ìý Ìý 3,809 Ìý Ìý 3,633 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � �

Total debt—excluding debt to affiliates

 Ìý $ 4,066 Ìý $ 3,910 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � �
� � � � � � � �
Ìý Ìý Ìý Ìý Ìý Ìý

Total debt—excluding debt to affiliates

 Ìý $ 4,066 Ìý $ 3,910 Ìý

Notes payable to affiliates—current

 Ìý Ìý 100 Ìý Ìý 100 Ìý

Notes payable to affiliates—noncurrent

 Ìý Ìý 712 Ìý Ìý 779 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � �

Total debt

 Ìý $ 4,878 Ìý $ 4,789 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý
� � � � � � � �
� � � � � � � �
Ìý Ìý Ìý Ìý Ìý Ìý
Schedule of Senior Credit Facilities

As of JuneÌý30, 2014, our senior credit facilities ("Senior Credit Facilities") consisted of our revolving credit facility ("Revolving Facility"), our extended term loan B facility ("Extended Term LoanÌýB"), our extended term loan B facility—seriesÌý2 ("Extended Term Loan B—SeriesÌý2") and our term loan C facility ("Term Loan C") as follows (dollars in millions):

Facility
Ìý Committed
Amount		 Ìý Principal
Outstanding		 Ìý Carrying
Value		 Ìý Interest Rate(3) Ìý Maturity Ìý

Revolving Facility

 Ìý $ 400 (1) $ â€� (2) $ â€� (2) USD LIBOR plus 2.50% Ìý Ìý 2017 Ìý

Extended Term Loan B

 Ìý Ìý NA Ìý Ìý 952 Ìý Ìý 952 Ìý USD LIBOR plus 2.50% Ìý Ìý 2017 Ìý

Extended Term Loan B—SeriesÌý2

 Ìý Ìý NA Ìý Ìý 339 Ìý Ìý 339 Ìý USD LIBOR plus 2.75% Ìý Ìý 2017 Ìý

Term Loan C

 Ìý Ìý NA Ìý Ìý 50 Ìý Ìý 48 Ìý USD LIBOR plus 2.25% Ìý Ìý 2016 Ìý
(1)
We have commitments with certain financial institutions to provide for a $200Ìýmillion increase to our Revolving Facility ("Revolving Increase") to an aggregate Revolving Facility committed amount of $600Ìýmillion upon completion of the acquisition of the Performance Additives and Titanium Dioxide businesses of Rockwood.

(2)
We had no borrowings outstanding under our Revolving Facility; we had approximately $17Ìýmillion (U.S. dollar equivalents) of letters of credit and bank guarantees issued and outstanding under our Revolving Facility.

(3)
The applicable interest rate of the Senior Credit Facilities is subject to certain secured leverage ratio thresholds. As of JuneÌý30, 2014, the weighted average interest rate on our outstanding balances under the Senior Credit Facilities was approximately 3%.
Summary of outstanding notes

As of JuneÌý30, 2014, we had outstanding the following notes (monetary amounts in millions):

Notes
Ìý Maturity Ìý Interest
Rate		 Ìý Amount Outstanding

Senior Notes ("2020 Senior Notes")

 Ìý November 2020 Ìý Ìý 4.875 % $650 ($647 carrying value)

Senior Notes ("2021 Senior Notes")

 Ìý April 2021 Ìý Ìý 5.125 % â‚�445 (â‚�450 carrying value ($611))

Senior Subordinated Notes

 Ìý March 2020 Ìý Ìý 8.625 % $350

Senior Subordinated Notes

 Ìý March 2021 Ìý Ìý 8.625 % $530 ($540 carrying value)
Redemption of Notes and Loss on Early Extinguishment of Debt

ÌýDuring the six months ended JuneÌý30, 2013, we redeemed or repurchased the following notes (monetary amounts in millions):

Date of Redemption
Ìý Notes Ìý Principal Amount of
Notes Redeemed		 Ìý Amount Paid
(Excluding Accrued
Interest)		 Ìý Loss on Early
Extinguishment
of Debt		 Ìý

MarchÌý4, 2013

 Ìý 5.50% Senior Notes due 2016 Ìý $ 200 Ìý $ 200 Ìý $ 34 Ìý