Huntsman Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

DEBT (Tables)

DEBT (Tables)

6 Months Ended

Jun. 30, 2011

		June 30, 2011		December 31, 2010
Senior Credit Facilities:
	Term loans	$	1,692	$	1,688
Amounts outstanding under A/R programs			254		238
Senior notes			462		452
Senior Subordinated notes			1,198		1,279
Australian credit facilities			34		33
HPS (China) debt			147		188
Variable interest entities			313		200
Other			75		68

Total debtexcluding debt to affiliates		$	4,175	$	4,146

Total current portion of debt		$	289	$	519
Long-term portion			3,886		3,627

Total debtexcluding debt to affiliates		$	4,175	$	4,146

Total debtexcluding debt to affiliates		$	4,175	$	4,146
Notes payable to affiliatesnoncurrent			4		4

Total debt		$	4,179	$	4,150

		June 30, 2011		December 31, 2010

Senior Credit Facilities:
	Term loans	$	1,692	$	1,688
Amounts outstanding under A/R programs			254		238
Senior notes			462		452
Subordinated notes			1,198		1,279
Australian credit facilities			34		33
HPS (China) debt			147		188
Variable interest entities			313		200
Other			75		68

Total debtexcluding debt to affiliates		$	4,175	$	4,146

Total current portion of debt		$	289	$	519
Long-term portion			3,886		3,627

Total debtexcluding debt to affiliates		$	4,175	$	4,146

Total debtexcluding debt to affiliates		$	4,175	$	4,146
Notes payable to affiliatescurrent			100		100
Notes payable to affiliatesnoncurrent			439		439

Total debt		$	4,714	$	4,685

Schedule of Senior Credit Facilities

Facility	Committed Amount		Principal Outstanding		Carrying Value			Interest Rate

Revolving Facility	$	300			$		(1)	USD LIBOR plus 3.00%	2014	(2)
Term Loan B		NA	$	652	$	652		USD LIBOR plus 1.50%	2014	(2)
Term Loan C		NA	$	427	$	390		USD LIBOR plus 2.25%	2016	(2)
Extended Term Loan B		NA	$	650	$	650		USD LIBOR plus 2.50%	2017	(2)

(1): We had no borrowings outstanding under our Revolving Facility; we had approximately $26 million (U.S. dollar equivalents) of letters of credit and bank guarantees issued and outstanding under our Revolving Facility.
(2): The Revolving Facility matures in March 2014, but is subject to optional extensions from time to time with the consent of the lenders and subject to certain specified conditions and exceptions. Notwithstanding the stated maturity dates, the maturities of the Revolving Facility and Term Loan B will accelerate if we do not repay, or refinance, all but $100 million of Huntsman International's outstanding debt securities on or before three months prior to the maturity dates of such debt securities. The maturity of the Extended Term Loan B will also accelerate if we do not repay, refinance or have a minimum level of liquidity available to enable us to refinance or repay our outstanding 5.50% senior notes due 2016 at least three months prior to the maturity date of such notes.

Schedule of A/R Programs

Facility	Maturity	Maximum Funding Availability(1)	Amount Outstanding	Interest Rate(2)(3)

U.S. A/R Program	April 2014	$250	$90	Applicable Rate plus 1.50%-1.65%
EU A/R Program	April 2014	225 (approximately $323)	114 (approximately $164)	Applicable Rate plus 2.0%

(1): The amount of actual availability under the A/R Programs may be lower based on the level of eligible receivables sold, changes in the credit ratings of our customers, customer concentration levels, and certain characteristics of the accounts receivable being transferred, as defined in the applicable agreements.
(2): Each interest rate is defined in the applicable agreements. In addition, the U.S. SPE and the EU SPE are obligated to pay unused commitment fees to the lenders based on the amount of each lender's commitment.
(3): Applicable rate for the U.S. A/R Program is defined by the lender as either USD LIBOR or CP rate. Applicable rate for the EU A/R Program is either GBP LIBOR, USD LIBOR or EURIBOR.

Redemption of Notes and Loss on Early Extinguishment of Debt

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

January 18, 2011	7.375% Senior Subordinated Notes due 2015	$100	$102	$	3
March 17, 2010	6.875% Senior Subordinated Notes due 2013	184 (approximately $253)	189 (approximately $259)	$	7
March 17, 2010	7.50% Senior Subordinated Notes due 2015	59 (approximately $81)	59 (approximately $81)	$	2
January 11, 2010(1)	7.00% Convertible Notes due 2018	$250	$382	$	146

(1): The convertible notes due 2018 were issued to Apollo in December 2008 as part of a settlement agreement with Apollo. These convertible notes, which would have matured on December 23, 2018, bore interest at the rate of 7% per year and were convertible into approximately 31.8 million shares of our common stock at any time by the holders.

- Definition

Tabular disclosure of debt extinguished which may include, amount of gain (loss), the income tax effect and the per share amount of the aggregate gain (loss), net of the related income tax.

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