Pyxus Gets Go-Ahead For $75M Ch. 11 Exit Financing

Law360 (July 22, 2020, 9:57 PM EDT) -- A Delaware bankruptcy judge on Wednesday gave tobacco supplier Pyxus International Inc. the go-ahead with plans to secure $75 million in secured loan financing the company said will be needed to exit its prepackaged Chapter 11.

After a brief hearing, U.S. Bankruptcy Judge Laurie Selber Silverstein signed an order enabling Pyxus to move forward with plans to close on the financing, saying she was satisfied that the company showed it was a key aspect of its plan to emerge from bankruptcy and that enough marketing was done to pursue other potential lenders.

"This is a march toward confirmation," Pyxus' attorney Sandeep...

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