Borden Chemical, Inc. Provides Update On Credit Facility.Business Editors COLUMBUS, Ohio--(BUSINESS WIRE)--Aug. 30, 2002 As previously reported in Borden Chemical, Inc.'s June 30, 2002 Form 10-Q Form 10-Q See 10-Q. filing with the Securities and Exchange Commission, the company is in the process of negotiating a new credit facility. Borden Chemical expects the secured facility to be finalized during September, following completion of required documentation. Fleet Bank, the lead bank in the syndication, has advised the company that the facility is substantially committed. Until the facility is finalized, Borden Chemical has the ability to meet its working capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. by borrowing from Borden Foods or other affiliates, if necessary. Based in Columbus, Borden Chemical is a leading global source for industrial resins and adhesives, formaldehyde formaldehyde (fôrmăl`dəhīd'), HCHO, the simplest aldehyde. It melts at −92°C;, boils at −21°C;, and is soluble in water, alcohol, and ether; at STP, it is a flammable, poisonous, colorless gas with a suffocating , UV-light curable cur·a·ble adj. Capable of being cured or healed. coatings and other chemical products serving a broad range of markets including the forest products, construction, fiber optics fiber optics, transmission of digitized messages or information by light pulses along hair-thin glass fibers. Each fiber is surrounded by a cladding having a high index of refractance so that the light is internally reflected and travels the length of the fiber , oilfield, composites, electronics, automotive and foundry industries. You can find Borden Chemical on the web at www.bordenchem.com. |
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