Exide Gets A Boost From Approval Of $500M Bankruptcy Loan

Law360, Wilmington (June 11, 2013, 4:24 PM EDT) -- Exide Technologies got a jolt of cash Tuesday when a Delaware bankruptcy judge gave the nod to a $500 million post-petition loan aimed at helping the battery manufacturing giant recharge through the Chapter 11 process.

U.S. Bankruptcy Judge Kevin J. Carey approved the debtor-in-possession financing from JPMorgan Chase Bank NA, which is split into a $275 million term loan and a $225 million revolving credit facility, giving Exide interim access to $170 million from the term loan and full access to the credit line on an interim basis.

“Based on the record presented, I am prepared to grant your request for...

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