Correction: Chemtura reorganization plan does not include new bond offering

Prospect News incorrectly reported that Chemtura Corp. plans to use the proceeds from $1.3 billion of debt issuance to help fund its exit from Chapter 11 bankruptcy.

The debt issuance was part of a plan proposed by the company's equity committee. However the company's own plan of reorganization does not include financing from a bond issue.

A hearing on the disclosure statement for the company's plan was scheduled for July 21.

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