Huntsman Corp., the chemical maker acquiring Rockwood Specialties Inc.’s titanium dioxide business, is seeking permission from lenders to borrow $1.15 billion in loans to partly finance the purchase, according to two people with knowledge of the deal.
Emirates, investing in a wide-body jet fleet including 90 Airbus SAS A380 superjumbos worth $34 billion at list prices, said financing the planes isn’t a concern and that it’s fully funded through July 2012.
An early 1970s photo in a Huntsman Corp. annual report shows a smiling young Jon Huntsman Jr. holding a dozen eggs in polystyrene packaging, an innovation that helped make a fortune for the family business.
Emirates, the world’s biggest airline by international traffic, needs more than $28 billion through 2017 to expand its fleet of Boeing Co. and Airbus SAS jets, almost double the amount raised since 1996.
Huntsman Corp., the U.S. chemicals producer founded by Jon Huntsman Sr., is considering an offer for Rockwood Holdings Inc.’s titanium-dioxide pigments business, three people with knowledge of the situation said.
Emirates will repay a $500 million bond due in March if it doesn’t get “attractive” terms in a refinancing deal because the biggest Arab airline is sitting on $3.4 billion of cash, President Gary Chapman said.
Emirates, the biggest Arab airline, said it expects to fly 15 percent more passengers this year after reporting a more than fivefold jump in annual profit on cost cuts, lower fuel prices and productivity gains.
Huntsman Corp. reported a power failure at its Port Neches, Texas, chemical plant that caused operating unit outages across the site, according to a filing with state regulators. Power has been re-established, according to the report.