Longview Power Lines Up $150M DIP To Fund Ch. 11 Exit

Law360, Wilmington (November 4, 2013, 8:22 PM EST) -- Coal plant operator Longview Power LLC said in Delaware bankruptcy court Monday that it has secured an agreement for up to $150 million in post-petition debtor-in-possession financing, potentially defusing the looming battle over how the case is to be funded and forging a path toward the company's Chapter 11 exit.

The multidraw, priming DIP financing would come from a group of prepetition lenders that hold about 60 percent of Longview's senior secured debt and that would be able to cover the cost of the Chapter 11...
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