Venator Materials Prices $375 Million Private Offering Of Senior Notes Due 2025

THE WOODLANDS, Texas, June 29, 2017 /PRNewswire/ -- Huntsman Corporation (NYSE: HUN) and Venator Materials PLC today announced that they have priced a $375 million in aggregate principal amount offering of senior notes due 2025 (the "Notes") through their wholly owned subsidiaries, Venator Finance S.à r.l. and Venator Materials Corporation. The offering was increased from a previously announced size of $350 million in aggregate principal amount of Notes. The Notes will carry an interest rate of 5 ¾ % and will mature on July 15, 2025. The closing of the offering is expected to occur on July 14, 2017, subject to the satisfaction of customary closing conditions.

Huntsman has previously announced its intention to separate its Pigments & Additives business, through an initial public offering of Venator Materials PLC this summer, subject to market conditions. Proceeds from the offering of Notes will initially be placed into escrow pending the initial public offering and will then be used to repay intercompany debt owed to Huntsman and its subsidiaries, to pay a dividend to Huntsman and its subsidiaries and to pay related fees and expenses.

The Notes are being offered in a private offering exempt from registration requirements of the United States Securities Act of 1933, as amended (the "Securities Act"). The Notes are being offered only to qualified institutional buyers under Rule 144A and outside the United States in compliance with Regulation S under the Securities Act.  The Notes have not been and will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.

This press release is neither an offer to sell nor a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.

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