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Chemical Week Magazine :: Business & Finance :: United States/Americas
Momentive Performance gains access to DIP funds
7:00 AM MDT | May 30, 2014 | —Vincent Valk
Momentive Performance Materials (MPM) has been granted access to the full $570-million debtor-in-possession (DIP) financing facility by the US Bankruptcy Court for the Southern District of New York, the company says. The DIP financing will allow the company to continue operating as it attempts to restructure its debts under Chapter 11 bankruptcy protection. The court had previously granted MPM access to $430 million of the DIP financing. “With the court’s final approval of our $570 million DIP financing, MPM now has access to $140 million of...
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