29 April 2009 20:57 [Source: ICIS news]
HOUSTON (ICIS news)--The US bankruptcy court approved a $400m (€304m) financing package for Chemtura, the specialty chemicals producer said on Tuesday.
So-called debtor-in-possession (DIP) financing allows a company to fund its day-to-day operations while it reorganises under bankruptcy protection.
Chemtura and its US operations filed for bankruptcy protection on 18 March. The filing included none of Chemtura's foreign subsidiaries.
($1 = €0.76)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|