Bank of America is expected to launch in a few weeks syndication of a $300 million debtor-in-possession facility for Kaiser Aluminum, which filed for bankruptcy on Feb. 12. A banker said some lenders including CIT Group are already lined up, but other participants could not be ascertained. A variety of factors forced Kaiser down the bankruptcy path, including significant near-term debt maturities during an unusually tough time for the aluminum industry. Kaiser is also facing the increased burden of asbestos litigation and growing obligations for retiree and medical costs. All of these factors led to the company's inability to access the markets, according to a company statement. Subsidiary Kaiser Aluminum & Chemical missed a $25.5 million interest payment on its subordinated notes last month and efforts to restructure did not pan out. Company officials did not return calls seeking comment.