Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Chemtura Corp. > News item |
Chemtura launches $450 million debtor-in-possession credit facility
By Sara Rosenberg
New York, Jan. 19 - Chemtura Corp. held a bank meeting on Tuesday to launch its proposed $450 million debtor-in-possession financing credit facility, according to market sources.
Citigroup is the lead bank on the deal.
The facility consists of a $150 million revolver and a $300 million term loan, with both tranches talked at Libor plus 425 basis points with a 2% Libor floor, sources said.
The original issue discount on the term loan is being talked in the 99 area, sources added.
Chemtura is a Middlebury, Conn.-based manufacturer and seller of specialty chemicals and polymer products.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.