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Invista Reduces Debt by $1.6 Billion
February 10, 2009 | Vincent Valk
Koch Industries (Wichita, KS) fibers subsidiary Invista announced today that it has reduced its debt by $1.6 billion since June as part of refinancing and recapitalization effort. That total represents a 63% decline from June’s figure, and a debt-to-total-capital ratio of about 20%, the company says. Invista’s remaining debt is mostly in the form of unsecured bonds an asset-based loan. Additional investment by subsidiaries of Koth Industries, Invista's parent, was included as part of the recapitalization effort. “Even with this refinancing...
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