Chemtura Wins Green Light For $1B In Exit Financing

Law360, New York (August 9, 2010, 6:10 PM EDT) -- A judge has permitted bankrupt plastics ingredient maker Chemtura Corp. to borrow more than $1 billion through deals with financial firms including Bank of America NA, Wells Fargo Capital Finance LLP and Citigroup Global Markets Inc. in order to allow the chemical company to exit Chapter 11.

Judge Robert Gerber issued an order Monday in the U.S. Bankruptcy Court for the Southern District of New York approving of the arrangements, through which Chemtura seeks to take on a $275 million secured revolving credit line and either...
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