UPDATE: 1/27/12, 6:30 p.m. EST. Lawyers at Davis Polk & Wardwell are advising Citigroup Global Markets and Barclays Capital in their roles as joint lead arrangers and physical bookrunners of a $3.5 billion bridge loan facility for Eastman Chemical in connection with the acquisition of Solutia. Corporate partner Jason Kyrwood is leading Davis Polk’s team.
Eastman Chemical Company is planning to purchase specialty chemicals manufacturer Solutia Inc. in a $4.7 billion deal, including debt, that will allow the former Eastman Kodak subsidiary to expand its Asian Pacific operations over the next several years.
