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Quarterly report pursuant to Section 13 or 15(d)

DEBT (Tables)

v2.4.0.6
DEBT (Tables)
3 Months Ended
Mar. 31, 2013
Debt Ìý
Outstanding debt

Outstanding debt consisted of the following (dollars in millions):

Ìý
Ìý MarchÌý31,
2013
Ìý DecemberÌý31,
2012
Ìý

Senior Credit Facilities:

Ìý Ìý Ìý Ìý Ìý Ìý Ìý

Term loans

Ìý $ 1,598 Ìý $ 1,565 Ìý

Amounts outstanding under A/R programs

Ìý Ìý 236 Ìý Ìý 241 Ìý

Senior notes

Ìý Ìý 646 Ìý Ìý 568 Ìý

Senior subordinated notes

Ìý Ìý 892 Ìý Ìý 892 Ìý

HPS (China) debt

Ìý Ìý 90 Ìý Ìý 94 Ìý

Variable interest entities

Ìý Ìý 262 Ìý Ìý 270 Ìý

Other

Ìý Ìý 63 Ìý Ìý 72 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý

Total debt—excluding debt to affiliates

Ìý $ 3,787 Ìý $ 3,702 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý

Total current portion of debt

Ìý $ 298 Ìý $ 288 Ìý

Long-term portion

Ìý Ìý 3,489 Ìý Ìý 3,414 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý

Total debt—excluding debt to affiliates

Ìý $ 3,787 Ìý $ 3,702 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý

Total debt—excluding debt to affiliates

Ìý $ 3,787 Ìý $ 3,702 Ìý

Notes payable to affiliates-noncurrent

Ìý Ìý 4 Ìý Ìý 4 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý

Total debt

Ìý $ 3,791 Ìý $ 3,706 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý
HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES
Ìý
Debt Ìý
Outstanding debt

Outstanding debt consisted of the following (dollars in millions):

Ìý

Ìý
Ìý MarchÌý31,
2013
Ìý DecemberÌý31,
2012
Ìý

Senior Credit Facilities:

Ìý Ìý Ìý Ìý Ìý Ìý Ìý

Term loans

Ìý $ 1,598 Ìý $ 1,565 Ìý

Amounts outstanding under A/R programs

Ìý Ìý 236 Ìý Ìý 241 Ìý

Senior notes

Ìý Ìý 646 Ìý Ìý 568 Ìý

Senior subordinated notes

Ìý Ìý 892 Ìý Ìý 892 Ìý

HPS (China) debt

Ìý Ìý 90 Ìý Ìý 94 Ìý

Variable interest entities

Ìý Ìý 262 Ìý Ìý 270 Ìý

Other

Ìý Ìý 63 Ìý Ìý 72 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý

Total debt—excluding debt to affiliates

Ìý $ 3,787 Ìý $ 3,702 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý

Total current portion of debt

Ìý $ 298 Ìý $ 288 Ìý

Long-term portion

Ìý Ìý 3,489 Ìý Ìý 3,414 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý

Total debt—excluding debt to affiliates

Ìý $ 3,787 Ìý $ 3,702 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý

Total debt—excluding debt to affiliates

Ìý $ 3,787 Ìý $ 3,702 Ìý

Notes payable to affiliates-current

Ìý Ìý 100 Ìý Ìý 100 Ìý

Notes payable to affiliates-noncurrent

Ìý Ìý 744 Ìý Ìý 599 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý

Total debt

Ìý $ 4,631 Ìý $ 4,401 Ìý
Ìý Ìý Ìý Ìý Ìý Ìý
Schedule of Senior Credit Facilities

As of MarchÌý31, 2013, our Senior Credit Facilities consisted of our revolving credit facility ("Revolving Facility"), Extended Term Loan B, our extended term loan B facility—seriesÌý2 ("Extended Term Loan B—SeriesÌý2") and our term loan C facility ("Term Loan C") as follows (dollars in millions):

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

Revolving Facility

Ìý $400 Ìý $ â€� (1) $ â€� (1) USD LIBOR plus 2.50% Ìý Ìý 2017 (3)

Extended Term Loan B

Ìý NA Ìý Ìý 863 Ìý Ìý 861 Ìý USD LIBOR plus 2.50% Ìý Ìý 2017 Ìý

Extended Term Loan B—SeriesÌý2

Ìý NA Ìý Ìý 342 Ìý Ìý 342 Ìý USD LIBOR plus 2.75% Ìý Ìý 2017 Ìý

Term Loan C

Ìý NA Ìý Ìý 419 Ìý Ìý 395 Ìý USD LIBOR plus 2.25% Ìý Ìý 2016 Ìý

(1)
We had no borrowings outstanding under our Revolving Facility; we had approximately $18Ìýmillion (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 MarchÌý31, 2013, 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 Term Loan C due JuneÌý30, 2016.

ÌýÌýÌýÌýÌýÌýÌýÌý

Summary of outstanding notes

As of MarchÌý31, 2013, we had outstanding the following notes (monetary amounts in millions):

Notes
Ìý Maturity Ìý Interest
Rate
Ìý Amount Outstanding

2020 Senior Notes

Ìý November 2020 Ìý Ìý 4.875 % $650 ($646 carrying value)

Senior Subordinated Notes

Ìý March 2020 Ìý Ìý 8.625 % $350

Senior Subordinated Notes

Ìý March 2021 Ìý Ìý 8.625 % $530 ($542 carrying value)
Redemption of Notes and Loss on Early Extinguishment of Debt

During the three months ended MarchÌý31, 2013 and 2012, we redeemed or repurchased the following notes (monetary amounts in millions):

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

MarchÌý4, 2013

Ìý 5.50% Senior Notes
due 2016
Ìý $200 Ìý $200 Ìý $ 34 Ìý

MarchÌý26, 2012

Ìý

7.50% Senior
Subordinated Notes
due 2015

Ìý

�64 (approximately $86)

Ìý

�65 (approximately $87)

Ìý
$

1
Ìý