A&P's $750M Exit Financing Package Gets Court OK

Law360, New York (January 25, 2012, 8:26 PM EST) -- The Great Atlantic & Pacific Tea Co. is another step forward on its path out of bankruptcy, after a New York bankruptcy judge on Tuesday approved a $750 million exit financing package provided by JPMorgan Chase & Co. and others.

U.S. Bankruptcy Judge Robert D. Drain approved the package, which consists of a $400 million senior secured asset-based revolving credit facility and a $350 million senior secured term loan, as part of the A&P supermarket owner's bankruptcy plan.

According to A&P's motion for approval of the...
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