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Published on 9/29/2003 in the Prospect News Bank Loan Daily.

Solutia obtains commitment to refinance its $300 million revolver

By Sara Rosenberg

New York, Sept. 29 - Solutia Inc. received a firm commitment from a lender to refinance its existing $300 million revolver and the transaction is expected to be finalized shortly.

Furthermore, in order to facilitate the finalization of legal documentation, the company sought and received an amendment granting relief from certain financial covenants in its existing credit agreement from Sept. 30 through Oct. 8, according to a news release.

Further details on the refinancing will be provided once the deal is completed, the news release added.

Solutia is a St. Louis seller of high-performance chemical-based materials.


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