Judge OKs Solutia's Exit Financing

Law360, New York (November 20, 2007, 12:00 AM EST) -- A bankruptcy judge reportedly signed off on Solutia Inc.’s exit financing Tuesday in a move that inches the company closer to emerging from bankruptcy protection.

Judge Prudence Carter Beatty of the U.S. Bankruptcy Court in the Southern District of New York gave the green light to the $2 billion deal, the Associated Press reported.

Solutia said last month that Citigroup Inc., Goldman Sachs and Deutsche Bank would underwrite the $2 billion loan, which will include a $400 million senior secured loan, a $1.2 billion senior secured...
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