Hexion to repay DIP facilities with proceeds from new senior notes

By Sarah Lizee

Olympia, Wash., June 19 – Hexion Inc. plans to repay its debtor-in-possession credit facilities and other distributions provided for under its plan of reorganization, as well as to repay fees and expenses related to its emergence from bankruptcy, with proceeds from a new offering of notes.

The company announced Wednesday that it plans to issue $450 million of new senior notes due 2027.

Hexion is a Columbus, Ohio-based specialty chemicals company.

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