Hexion's Debt Commitment Mystery Letter
Is Hexion Specialty Chemicals? debt commitment letter an enforceable document?
These letters purport to commit banks to agree to finance acquisitions on definitive terms. The actual final terms though are only agreed in connection with the closing of a transaction and documented in full credit agreements.
But agreements to agree are generally unenforceable. The reason [...]...
10/23/2008 4:05:47 PM
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