Court Approves $1.55B In Loans For WR Grace Ch. 11 Exit

Law360, New York (January 29, 2014, 2:48 PM ET) -- A Delaware federal judge on Tuesday approved $1.55 billion financing package designed to the fund the chemical and materials manufacturer W.R. Grace & Co. as it prepares to emerge from nearly 13 years under court protection.

In a phone hearing with W.R. Grace's lawyers, Judge Kevin Carey signed off on the package, which will be furnished by an assembly of financial institutions and consist of $1.15 billion in term loans and $400 million in credit facilities. The loans will help W.R. Grace meet its capital and...
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