W.R. Grace Secures Amended $165M DIP Loan

Law360, New York (March 20, 2008, 12:00 AM EDT) -- After several banks in the syndicate of lenders that promised to finance W.R. Grace & Co.'s bankruptcy exit scaled back their funding offers, the company has received court approval of a sixth amended debtor-in-possession loan that has been slashed from $250 million to $165 million.

In an order handed down Monday in the U.S. Bankruptcy Court for the District of Delaware, Judge Judith Fitzgerald authorized W.R. Grace to further modify its DIP financing.

Under the amendments, the loan's maturity will be extended for two more years,...
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