Quarterly report pursuant to Section 13 or 15(d)

DEBT (Tables)

v2.4.0.6
DEBT (Tables)
9 Months Ended
Sep. 30, 2012
Debt  
Outstanding debt

 

 

 
  September 30,
2012
  December 31,
2011
 

Senior Credit Facilities:

             

Term loans

  $ 1,613   $ 1,696  

Amounts outstanding under A/R programs

    237     237  

Senior notes

    490     472  

Senior subordinated notes

    892     976  

HPS (China) debt

    109     167  

Variable interest entities

    266     281  

Other

    73     113  
           

Total debt—excluding debt to affiliates

  $ 3,680   $ 3,942  
           

Total current portion of debt

  $ 130   $ 212  

Long-term portion

    3,550     3,730  
           

Total debt—excluding debt to affiliates

  $ 3,680   $ 3,942  
           

Total debt—excluding debt to affiliates

  $ 3,680   $ 3,942  

Notes payable to affiliates-noncurrent

    3     4  
           

Total debt

  $ 3,683   $ 3,946  
           
Schedule of Senior Credit Facilities

 

 

Facility
  Committed
Amount
  Principal
Outstanding
  Carrying
Value
  Interest Rate(2)   Maturity  

Revolving Facility

  $ 400   $ (1) $ (1) USD LIBOR plus 2.50%     2017 (3)

Term Loan B

    NA     243     243   USD LIBOR plus 1.50%     2014  

Extended Term Loan B

    NA     637     637   USD LIBOR plus 2.50%     2017 (3)

Extended Term Loan B—Series 2

    NA     342     342   USD LIBOR plus 2.75%     2017 (3)

Term Loan C

    NA     419     391   USD LIBOR plus 2.25%     2016  

(1)
We had no borrowings outstanding under our Revolving Facility; we had approximately $19 million (U.S. dollar equivalents) of letters of credit and bank guarantees issued and outstanding under our Revolving Facility.

(2)
The applicable interest rate of the Senior Credit Facilities is subject to certain secured leverage ratio thresholds. As of September 30, 2012, the weighted average interest rate on our outstanding balances under the Senior Credit Facilities was approximately 3%.

(3)
The maturity of the Revolving Facility commitments will accelerate if we do not repay, refinance or have a minimum level of liquidity available to enable us to repay our 5.50% senior notes due 2016, Term Loan B due April 19, 2014 and Term Loan C due June 30, 2016. The maturity of Extended Term Loan B and Extended Term Loan B—Series 2 will accelerate if we do not repay, refinance or have a minimum level of liquidity available to enable us to refinance or repay our 5.50% senior notes due 2016 that remain outstanding during the three months prior to the maturity date of such notes.
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
 

March 26, 2012

  7.50% Senior
Subordinated Notes
due 2015
  €64
(approximately $86)
  €65
(approximately $87)
  $ 1  

Three months ended September 30, 2011

 

6.875% Senior
Subordinated Notes
due 2013

 

€14
(approximately $19)

 

€14
(approximately $19)

 
$

 

Three months ended September 30, 2011

 

7.50% Senior
Subordinated Notes
due 2013

 

€12
(approximately $17)

 

€12
(approximately $17)

 
$

 

July 25, 2011

 

7.375% Senior
Subordinated Notes
due 2013

 

$75

 

$77

 
$

2
 

January 18, 2011

 

7.375% Senior
Subordinated Notes
due 2015

 

$100

 

$102

 
$

3
 
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
 
Debt  
Outstanding debt

 

 

 
  September 30,
2012
  December 31,
2011
 

Senior Credit Facilities:

             

Term loans

  $ 1,613   $ 1,696  

Amounts outstanding under A/R programs

    237     237  

Senior notes

    490     472  

Senior subordinated notes

    892     976  

HPS (China) debt

    109     167  

Variable interest entities

    266     281  

Other

    73     113  
           

Total debt—excluding debt to affiliates

  $ 3,680   $ 3,942  
           

Total current portion of debt

  $ 130   $ 212  

Long-term portion

    3,550     3,730  
           

Total debt—excluding debt to affiliates

  $ 3,680   $ 3,942  
           

Total debt—excluding debt to affiliates

  $ 3,680   $ 3,942  

Notes payable to affiliates-current

    100     100  

Notes payable to affiliates-noncurrent

    610     439  
           

Total debt

  $ 4,390   $ 4,481