Hexion enters into a Restructuring Support Agreement
On April 1, 2019, Hexion entered into a Restructuring Support Agreement, also referred to as an “RSA”, with the vast majority of creditors across its capital structure on the terms of a consensual financial de-leveraging plan that will strengthen the Company’s financial position and accelerate future growth.
To implement the RSA, the Company, including substantially all of their U.S. subsidiaries and one non-operating entity based in Nova Scotia, Canada, voluntarily filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code.
All of Hexion’s global business segments are continuing to operate as normal, and Hexion’s operations outside the U.S. are not included in the Chapter 11 proceedings.
