Chemtura Exit Financing Takes Shape

The $750 million portion of Chemtura's $1.025 billion exit financing will be composed of a $450 million bond issuance and a $300 million senior term loan, the company has announced. The bonds will be due in 2018, and the interest rate has not been set. In the original announcement of the exit financing, Chemtura did not detail the exact parameters of the $750 million, though it did say that the total would include a bond offering and a term loan. The remaining $275 million in financing will take the form of an asset-backed credit line, as announced early last...

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