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Lyondell seeks a 6 week extension of its bankruptcy loan

August 07/2009

August 7, ( -- As Lyondell Chemical Co contends with a lawsuit brought by a creditors committee, it has sought a six-week extension of its bankruptcy loan until Jan 31.


The lawsuit seeks to recover as much as US$22 bln from the banks, advisers and executives who arranged the 2007 leveraged buyout of the company by Basell. Lyondell had received approval in February for a US$8 bln debtor-in-possession financing to help fund operations while it reorganizes in bankruptcy court. Under the terms of the original agreement, the loan matures Dec. 15, 2009.

      MRC Reference

LyondellBasell.  The share in the Russian market in 2008:
 PE  - 1.4% (including HDPE - 2.5%, LDPE – 0.3%);
 PP – 4.1% (including block-copolymers - 9.5%).

Annual sales growth in Russia, during the recent 5 years:
 PE - 27%;
 PP – 88%.

The leader in the following polymers processing technologies:

 pipe extrusion;

 film extrusion;

 injection molding.

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