The Woodlands, Texas - Huntsman will use the proceeds of a recent sale of shares in its Venator titanium dioxide business to pay off the last of its senior secured loans. The debt to be paid is the company's Term Loan B due in 2023, and will be settled by the $471m generated by the sale of Venator and cash on hand, for a total cost of $511m. The company added, 'With this debt repayment, Huntsman will achieve investment grade-type metrics with its trailing 12-month pro forma net leverage ratio for the third quarter is down to 1.8 times from 2.2 times.'
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