Northwest Flies High With $779M Refinancing

Law360, New York (November 27, 2006, 12:00 AM EST) -- A federal bankruptcy judge has approved Northwest Airlines Corp.'s bid to borrow up to $779 million from a Citigroup Inc. subsidiary to refinance its transatlantic fleet.

In court documents, Judge Allan L. Gropper of the U.S. Bankruptcy Court in Manhattan wrote last Tuesday that the refinancing was “in the best interests of the debtor, its estate, and all parties in interest.”

“The financing…will permit the debtor to refinance existing prepetition and postpetition loans, and finance the purchase of new aircraft, at a lower cost than existing...
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