Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. have entered into an agreement with Huntsman Corporation to end all litigation among Credit Suisse, Deutsche Bank and their affiliates and Huntsman.
Credit Suisse and Deutsche Bank have chosen to resolve the matter for USD 316 million each. In addition, Credit Suisse and Deutsche Bank will each provide USD 550 million of senior debt financing to Huntsman International LLC, a subsidiary of Huntsman, to be repaid over seven years. These loans will benefit Huntsman’s capital structure and strengthen the Banks’ historically strong lending relationships with Huntsman.
While we believe strongly in the merits of our case, we felt it was in our best interests to resolve the litigation for USD 316 million each. We are pleased to have the litigation behind us, say rhe Banks.
L.D.