TITLE

Citi Wins DIP Deal for Solutia

AUTHOR(S)
Burns, Mairin
PUB. DATE
January 2004
SOURCE
Investment Dealers' Digest;1/26/2004, Vol. 70 Issue 4, p40
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
Reports that Citigroup has won U.S. bankruptcy court approval to provide $525 million in debtor-in-possession financing to chemical maker Solutia Inc. Replacement of $350 million loan furnished by Cerberus Capital Management in October 2003; Solutia's search for a better refinancing deal; Additional savings for Solutia via the Citigroup deal.
ACCESSION #
12058504

 

Related Articles

  • Credit Market Turmoil Hampers Solutia Bankruptcy Exit. Westervelt, Robert; Sissell, Kara // Chemical Week;1/28/2008, Vol. 170 Issue 3, p10 

    This article reports on the setback facing Solutia's planned emergence from bankruptcy on January 25, 2008. The lenders cite continuing conditions in the credit markets, Solutia says. The exit-financing package consists of a $1.2-billion senior secured term loan, a $400million senior secured...

  • Citigroup holds course as smaller ships rock.  // Dow Theory Forecasts;3/19/2001, Vol. 57 Issue 12, p8 

    Focuses on the investment growth of Citigroup Inc. in the United States. Success of the company in the banking and insurance sector; Partnership with Associates First Capital; Benefits of Citigroup in the U.S. Federal Reserve cuts.

  • Solutia unveils new plan.  // Chemical Market Reporter;6/13/2005, Vol. 267 Issue 24, p4 

    Reports that Solutia Inc. has reached an agreement-in principle with Monsanto Co. and its unsecured creditors for Solutia's restructuring in the U.S. Effect of the agreement on the operations of Solutia; Percentage of equity of the reorganized Solutia the unsecured creditors will initially...

  • Solutia Wins, Bondholders Lose Case And Money. M. S. // High Yield Report;5/7/2007, Vol. 18 Issue 18, p1 

    The article reports on a court ruling in a case filed by bondholders against Saint Louis, Missouri-based company Solutia Inc., which gave victory to the company. The resolution of the suit is said to pave way for the company to emerge from bankruptcy. Bondholders argued that the company acted...

  • Monsanto Sets Aside $285 Million to Cover Solutia Liabilities. Westervelt, Robert // Chemical Week;1/5/2005, Vol. 167 Issue 1, p11 

    Reports on the decision of Monsanto to reserve funds from its first quarter of 2005 results to cover litigation and environmental liabilities related to the 2003 bankruptcy of Solutia which was spun off by Monsanto in 1997.

  • Solutia Expects Fourth-Quarter Sales Drop; May Sell Nylon Unit This Quarter. Seewald, Nancy // Chemical Week;2/2/2009, Vol. 171 Issue 4, p13 

    The article reports on the announcement by chemical company Solutia that it expects fourth-quarter operating earnings from continued operations of about $30 million, excluding charges related to its Chapter 11 reorganization plan. According to the company, sales from continuing operations are...

  • Solutia To Receive DIP, Pending Approval.  // Bank Loan Report;1/5/2004, Vol. 19 Issue 1, p1 

    Reports on the Chapter 11 bankruptcy filing of Solutia in the United States. Financing commitment received by the company.

  • United Picks JPM, Citi For $3B Exit Financing.  // Bank Loan Report;10/10/2005, Vol. 20 Issue 38, p3 

    Reports on the announcement of UAL Corp. regarding the appointment of JPMorgan Chase & Co. and Citigroup Inc. as joint lead arrangers in a six-year debt financing package that is a key part of the company's plan to emerge from bankruptcy in the U.S. Offers received by the company from four...

  • NO EXIT. Rozens, Aleksandrs // Investment Dealers' Digest;2/4/2008, Vol. 74 Issue 5, p20 

    The article focuses on the prevention of Solutia Inc., a St. Louis industrial product manufacturer to complete its exit financing in the U.S. Solutia had been under bankruptcy court supervision since December 2003. It was expected to leave bankruptcy court supervision when it sales were $2.4...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics