Law360, New York (June 14, 2010, 10:54 AM ET) -- Blockbuster Inc. is reportedly seeking new loans, including up to $150 million in debtor-in-possession financing, to smooth out its finances and possibly prepare for a Chapter 11 filing.
The movie rental chain is consulting with its bondholders about the possibility of a DIP loan, the Wall Street Journal reported Saturday.
The senior bondholders, which hold about $630 million of the company's debt, would provide the financing to protect their investment if Blockbuster does in fact enter bankruptcy, the Journal reported.
In another potential bid to stay...
Blockbuster In The Market For $150M DIP Loan
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