Huntsman Corporation announced that its wholly owned subsidiary, Huntsman International LLC, entered into a new USD1.2 billion senior unsecured, sustainability-linked revolving credit facility (the "Credit Facility") to replace the existing USD1.2 billion senior unsecured revolving credit facility expiring in May of 2023, said the company.
The new Credit Facility is scheduled to mature on May 20, 2027, with improved terms and lower fees, as well as provisions to extend the maturity by up to two more years and to increase the facility size by USD500 million. Its sustainability-linked feature includes adjustments to the commitment fee and borrowing rate based on the company's performance in intensity reductions for both greenhouse gas emissions and water consumption.
Phil Lister, Executive Vice President and Chief Financial Officer, commented: "We take pride in the role we play in creating a more sustainable future. Linking our revolving credit facility to sustainability objectives supports our commitment to provide innovative solutions for a low-carbon and more sustainable economy."
As per MRC, Huntsman announced that it has launched a new range of low-emission MDI-based foam systems for automotive interiors. The ACOUSTIFLEX LE and RUBIFLEX® LE polyurethane product lines. These innovative technologies allow global automotive formulators and foam manufacturers to produce high-performance polyurethane foams, while significantly reducing interior emissions levels to meet OEMs’ requirements.
Also, Huntsman is expanding its performance products facility in Petfurdo, Hungary. The multimillion-dollar investment project will expand capacity for polyurethane (PU) catalysts and specialty amines, scheduled for completion in mid-2023.
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated and specialty chemicals with 2020 revenues of approximately USD6 billion. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets.
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