Solvay intervenes in tense Rhodia consent solicitation

13 Dec 2011

Solvay, the Belgian chemicals company that took over Rhodia in September, has said Rhodia’s bonds are subject to a cross-default with its own.

The announcement came just days before the deadline in a consent solicitation process, in which Rhodia is asking investors in its bonds to agree that Rhodia no longer has to produce separate financial reports. Credit Suisse is handling the consent solicitation, for which the deadline is on Friday ...

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