Patriot Coal To Get Final Access To $802M Loan

Law360, New York (August 2, 2012, 7:43 PM EDT) -- A New York bankruptcy judge is set to give final approval to Patriot Coal Corp.'s $802 million debtor-in-possession loan based on an agreement reached with lenders during a Thursday hearing that includes an interest rate reduction of 25 basis points.

U.S. Bankruptcy Judge Shelley C. Chapman's conditional approval of the DIP loan on a final basis will be made official once the lenders — Bank of America Corp., Barclays Bank PLC and Citigroup Global Markets Inc. — complete syndication of the DIP facility, intended to carry...
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