AbitibiBowater Seeks OK For $750M Exit Financing

Law360, New York (August 9, 2010, 1:22 PM EDT) -- Bankrupt newsprint producer AbitibiBowater Inc. has asked a court for permission to issue $750 million in new notes in order to finance its exit from bankruptcy.

In a motion filed Friday in the U.S. Bankruptcy Court for the District of Delaware, AbitibiBowater said it believed it could raise $750 million from its note offering thanks to current favorable market conditions, but it said if it couldn't raise the money with a notes offering, it would obtain a term loan of up to $750 million.

The note...
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