Borden Chemical, Inc. Secures $175 Million Credit Facility

    COLUMBUS, Ohio--Sept. 23, 2002--Borden Chemical, Inc. announced today that it has entered into a new three-year, $175 million revolving credit facility with a group of nine banks.
    The facility is secured with inventory and receivables in the United States, Canada and the United Kingdom and will be used for general corporate purposes. Fleet Securities, Inc. served as the lead arranger for the facility and Fleet Capital Corporation is the administrative agent.

    Based in Columbus, Borden Chemical is a leading global source for industrial resins and adhesives, formaldehyde, UV-light curable coatings and other chemical products serving a broad range of markets including the forest products, construction, fiber optics, oilfield, composites, electronics, automotive and foundry industries. You can find Borden Chemical on the web at www.bordenchem.com.