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Almatis Group Emerged from Chapter 11

Pursuant to the Plan, the existing senior debt was repaid in full. In addition, the junior lenders to Almatis will receive new PIK Notes and a 40 % equity stake in the Almatis Group in exchange for their old claims. In exchange for a new USD 100 million equity investment, DIC will retain a 60 % equity stake in the Almatis Group. Financing for the distributions under the Plan was provided from the new DIC equity investment and from approximately USD 565 million in new debt underwritten by GSO Capital Partners, Sankaty Credit Opportunities IV, and GoldenTree Asset Management. An additional USD 50 million revolving credit facility is provided by Bank of America, Merrill Lynch International and several units of JP Morgan Chase. As a result of the occurrence of the effective date of the Plan, Almatis will also pay in full all outstanding prepetition claims of trade vendors expeditiously. (09/2010)    


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