In the interim, to facilitate the finalization of legal documentation, the company sought and received, at no additional fee, an amendment granting relief from certain financial covenants in its existing $300 million revolving credit facility for the period of Sept. 30, 2003 through Oct. 8, 2003.
Solutia refinancing plan moves ahead
September 30, 2003
Solutia Inc. has received a firm commitment from a lender to refinance its existing revolving credit facility and anticipates finalizing the transaction shortly. Further information regarding the company's new credit facility will be provided at the time the transaction is consummated.