LyondellBasell Misses European Payment; Creditors Seek Investigation into 2007 Merger

LyondellBasell has missed the deadline for paying interest on European bonds due in 2015, but a 60-day restraining order recently approved by a U.S. bankruptcy court gives the company until late April to resolve the matter and avoid an official default, a company spokesperson says. LyondellBasell says it has made a payment on a separate bond due in 2027, however. There are “a number of contractual restrictions that limit the company from paying interest on the bond due in 2015. We have to address those issues before final determination can be made on how we...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers