Quarterly report pursuant to Section 13 or 15(d)

DEBT (Tables)

v3.20.2
DEBT (Tables)
9 Months Ended
Sep. 30, 2020
Debt  
Schedule of outstanding debt

Outstanding debt, net of debt issuance costs, consisted of the following (dollars in millions):

Huntsman Corporation

September 30, 

December 31, 

    

2020

2019

Senior Credit Facilities:

    

Revolving facility

$

$

40

Amounts outstanding under A/R programs

52

167

Term loan

103

Senior notes

2,003

1,963

Variable interest entities

50

65

Other

19

51

Total debt

$

2,124

$

2,389

Total current portion of debt

$

567

$

212

Long-term portion of debt

1,557

2,177

Total debt

$

2,124

$

2,389

HUNTSMAN INTERNATIONAL LLC AND SUBSIDIARIES  
Debt  
Schedule of outstanding debt

September 30, 

December 31, 

    

2020

2019

Senior Credit Facilities:

Revolving facility

$

$

40

Amounts outstanding under A/R programs

52

167

Term loan

103

Senior notes

2,003

1,963

Variable interest entities

50

65

Other

19

51

Total debt, excluding debt to affiliates

$

2,124

$

2,389

Total current portion of debt

$

567

$

212

Long-term portion of debt

1,557

2,177

Total debt, excluding debt to affiliates

2,124

2,389

Notes payable to affiliates-current

100

Notes payable to affiliates-noncurrent

280

Total debt

$

2,124

$

2,769

Schedule of 2018 Credit Facility

Unamortized

Discounts and

Committed

Principal

Debt Issuance

Carrying

Facility

Amount

    

Outstanding

    

Costs

    

Value

    

Interest Rate(2)

    

Maturity

2018 Revolving Credit Facility

$

1,200

$

(1)

$

(1)

$

(1)

USD LIBOR plus 1.50%

2023

(1) On September 30, 2020, we had an additional $6 million (U.S. dollar equivalents) of letters of credit and bank guarantees issued and outstanding under our 2018 Revolving Credit Facility.

(2) Interest rates on borrowings under the 2018 Revolving Credit Facility vary based on the type of loan and Huntsman International’s debt ratings. The then applicable interest rate as of September 30, 2020 was 1.50% above LIBOR.
Schedule of A/R Programs

    

    

Maximum Funding

    

Amount

    

Facility

    

Maturity

    

Availability(1)

    

Outstanding

    

Interest Rate(2)

U.S. A/R Program

 

April 2022

$

150

$

(3)  

Applicable rate plus 0.90%

EU A/R Program

 

April 2022

100

45

 

Applicable rate plus 1.30%

(or approximately $117)

(or approximately $52)

(1) The amount of actual availability under our 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) The applicable rate for our U.S. A/R Program is defined by the lender as USD LIBOR. The applicable rate for our EU A/R Program is either GBP LIBOR, USD LIBOR or EURIBOR.

(3) As of September 30, 2020, we had approximately $4 million (U.S. dollar equivalents) of letters of credit issued and outstanding under our U.S. A/R Program.