UPDATE 1-Tronox amends reorganization plan

* Raises funding for environmental response trusts

* Shareholders to get warrants for 5 pct in reorganized co

* Plan to be funded by $468 mln debt, $170 mln rights offering

Aug 30 (Reuters) - Bankrupt U.S. chemicals company Tronox Inc TRXAQ.PK said it reached an agreement with key creditors and filed an amended reorganization plan that will allow it to emerge from Chapter 11 protection in the coming months.

The company, which faces an estimated $1.4-$5.2 billion in environmental claims, plans to set up environmental response trusts to assume its liabilities and responsibility for clean-up costs.

Tronox, which earlier planned to fund these trusts with $115-$145 million, said they will now get $270 million in cash. The trusts will also receive the right to 88 percent of recoveries from litigation involving Anadarko Petroleum Corp (APC.N: Quote).

Existing shareholders of Tronox will receive warrants to buy up to 5 percent of the reorganized company's stock if they vote to accept the restructuring plan.

The company said it would fund its reorganization plan with first-lien debt of no more than $468 million and proceeds of a $170 million rights offering for unsecured creditors.

The amended disclosure statement requires bankruptcy court approval before creditors can vote on the plan.