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Chemtura gains $400 million credit facility

A US bankruptcy court has fully approved a $400 million credit facility for Chemtura. The company had previously been granted access to $190 million following its filing for protection from creditors under Chapter 11 of the US Bankruptcy Code in March ( Agrow No 564, p 2). The financing, along with cash from ongoing operations, will allow Chemtura to continue to meet its obligations during financial restructuring, the company points out.

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