Huntsman International's new $1.365 billion credit broke out of allocations trading at 102. As LMW went to press last Thursday, the loan was still trading at 102-102 1/4, traders said. The new "B" loan combined the company's $620 million "B" loan and $620 million "C" piece into one tranche. The company also borrowed an additional $125 million.
Deutsche Bank and Citibank are leads on the loan which also extended maturities until 2010. The "B" was set to mature in 2007 and the "C" loan in 2008. Huntsman officials did not return calls. J.P. Morgan was joint bookrunner, UBS was syndication agent and Credit Suisse First Boston was documentation agent (LMW, 6/11). Huntsman officials did not return calls.