Delphi Asks To Extend DIP Financing

Law360, New York (April 28, 2008, 12:00 AM EDT) -- Bankrupt Delphi Corp. hopes to secure and win approval of $4.1 billion in debtor-in-possession financing that would last until the company emerges from Chapter 11 protection or until the end of 2008.

In a filing Thursday with the U.S. Securities and Exchange Commission, the auto parts maker said that it hoped to obtain a refinancing package that would include a $1 billion first priority revolving credit facility, a $600 million first priority term loan and an approximate $2.5 billion second priority term loan.

A hearing on...
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