Chemtura Wants $1B To Pay For Ch. 11 Exit

Law360, New York (August 2, 2010, 1:06 PM EDT) -- Bankrupt plastics components maker Chemtura Corp. is seeking approval for a tentative finance package of more than $1 billion from Bank of America NA, Wells Fargo Capital Finance LLP, Citigroup Global Markets Inc. and others in order to transition out of Chapter 11 protection.

The company filed a motion Friday in the U.S. Bankruptcy Court for the Southern District of New York to lock in what it could of the agreements, which include a committed $275 million secured revolving credit line and additional notes or term...
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