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CDS auctions set price of 15 for Chemtura, 18.25 for Great Lakes
By Angela McDaniels
Tacoma, Wash., April 14 - The final price of Chemtura Corp. debt for the purpose of settling credit derivative transactions was set at 15, according to Creditex and Markit.
The final price was set at 18.25 for Great Lakes Chemical Corp.
The prices were set via auctions on Tuesday that were administered by Creditex and Markit.
Chemtura, a Middlebury, Conn.-based manufacturer and seller of specialty chemicals and polymer products, filed for bankruptcy on March 18 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 09-11233. Great Lakes merged with Crompton Corp. in 2005 to form Chemtura.
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