Grace Seeks Extension Of $250M DIP Financing

Law360, New York (February 12, 2008, 12:00 AM EST) -- W.R. Grace & Co. has asked a bankruptcy judge to sign off on a two-year extension of its $250 million debtor-in-possession financing while a trial court determines the amount of the company’s asbestos liabilities.

In court documents filed Monday in the U.S. Bankruptcy Court for the District of Delaware, Grace asked requested entry of an order authorizing it to amend its post-petition loan and security agreement, which is currently set to expire on April 1.

The amendment would extend that loan by two years, giving Grace...
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