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Access Industries
Access Industries Commits $750 Million in Debtor-in-Possession Financing for LyondellBasell Restructuring
January 23rd, 2009
Access Industries has committed to provide $750 million of the total $3.25 billion of new money debtor-in-possession (DIP) financing arranged by LyondellBasell in conjunction with its petition for relief under Chapter 11 of the United States Bankruptcy Code. Contributing $750 million in funding makes Access one of the largest contributors of new money funding raised as part of the DIP facility. The Company's Chapter 11 petition remains subject to Bankruptcy Court approval. Access' commitment of $750 million represents one of the largest DIP financing commitments by an owner of an independent industrial concern over the past year. The scale of the financing reflects...
Source: Health Business Week (2009-01-23)
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