J.P. Morgan & Co. and Donaldson, Lufkin & Jenrette unveiled a new structure Wednesday for a $2.75 billion financing package to Lyondell Chemical Worldwide, after investors said the loan might face refinancing risk next year.

Market sources said the new structure, which must be approved by investors before Saturday, adds a senior secured bank term loan that would reduce the amount to be refinanced to $500 million, from $1.75 billion.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.