Lyondell unfazed by ABN Amro's DIP threat (Dealscape

As bankrupt Lyondell Chemical Co. prepares for final court approval of its $8.5 billion debtor-in-possession loan, the chemicals giant said its lenders can fully fund the DIP even if ABN Amro Bank NV follows through with its threat to walk away from its commitment.

ABN Amro, one of Lyondell's largest debtholders, with about $3.4 billion of senior debt outstanding, on Monday filed an objection to the DIP, arguing that rollup provisions in the loan jeopardize its existing lien rights.

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NOT A SUBSCRIBER? Lyondell unfazed by ABN Amro's DIP threat Posted on February 26, 2009 12:15 PM As bankrupt Lyondell Chemical Co. prepares for final court approval of its $8.5 billion debtor-in-possession loan, the chemicals giant said its lenders can fully fund the DIP even if ABN Amro Bank NV follows through with its threat to walk away from its commitment. ABN Amro, one of Lyondell's largest debtholders, with about $3.4 billion of senior debt outstanding, on Monday filed an objection to the DIP, arguing that rollup provisions in the loan jeopardize its existing lien rights. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline. 790 in-depth reports of Bankruptcies in the Manufacturing sector 786 articles related to ABN Amro Bank NV 188 company pages related to chemicals 77 articles related to Lyondell Chemical Co. 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Birds Eye Cadbury AG Agrium Inc. Skadden Arps Revolution Money Tandberg ASA Aisling Capital Ken Lewis Natco		EXISTING USERS Username Password Forget your password? Missing a product?

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