Chemtura Extends Escrow Period to November 25

The escrow period for Chemtura's exit financing has been extended to November 25, the company announced yesterday. Chemtura's exit financing facility, comprised of a $455 million bond issue and a $295 million term loan, is to be held in an escrow account until the company emerges from bankruptcy. The escrow period was originally set to expire on October 26, and Chemtura had said earlier this year that it expected to emerge from bankruptcy in the fall. In late September, Chemtura's equity holders rejected the company' reorganization plan, saying it did not...

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