Smurfit Enters $650M Asset-Backed Loan Facility

Law360, New York (April 21, 2010, 2:56 PM EDT) -- Smurfit-Stone Container Corp. has obtained $650 million in asset-backed loan financing to aid its exit from bankruptcy as its Chapter 11 reorganization plan nears approval.

The loans will include a $550 million U.S. facility and a $100 million facility for Smurfit's Canadian arm, according to an 8-K filing with the U.S. Securities and Exchange Commission on Wednesday.

Deutsche Bank AG, JPMorgan Chase Bank NA and several of their affiliates are acting as lead arrangers for the loan facility, according to the filing.

The ABL revolving facility...
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