We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Hancock Secures $100M Exit Financing Deal With GE

Law360 (April 10, 2008, 12:00 AM EDT) -- Hancock Fabrics Inc. has brokered an exit financing deal with General Electric Capital Corp., which has agreed to provide the bankrupt fabric company with a revolving credit line of up to $100 million.

In court documents filed Wednesday in the U.S. Bankruptcy Court for the District of Delaware, Hancock asked for court approval of the deal, saying GE had offered the most competitive terms for the debtors out of a slew of bids received.

The financing agreement also includes a letter of credit subfacility of up...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.