Interstate Secures $400M In Exit Financing

Law360, New York (October 23, 2007, 12:00 AM EDT) -- Interstate Bakeries Corp., the maker of Wonder Bread and Twinkies, said Monday that it had reached an agreement with Silver Point Finance LLC to provide it with up to $400 million in exit financing.

At the same time, the company said it had reached an agreement to convert about $218 million in senior secured debt into new debt and equity securities to be issued upon the company's emergence from Chapter 11.

Both agreements are still subject to approval by the U.S. Bankruptcy Court for the Western...
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