Law360, New York (July 18, 2008, 12:00 AM EDT) -- After eleventh-hour negotiations prompted by a judge's rejection of an earlier bid, LandSource Communities Development LLC reached an agreement Friday with its creditors on a debtor-in-possession financing deal worth over $1 billion.
The debtor filed a certification of counsel in the U.S. Bankruptcy Court for the District of Delaware requesting court approval of a new facility that will allow it to borrow as much as $1.185 billion from a group of lenders headed by Barclays Bank Plc and Marathon Special Opportunity Fund LP.
At a hearing...
LandSource Strikes New Deal For $1.2B Financing
To view the full article, register now.
Try Law360 FREE for seven days
Already a subscriber? Click here to login
