Frontier Airlines Gets $75M DIP Financing

Law360, New York (July 28, 2008, 12:00 AM EDT) -- Frontier Airlines Holdings Inc. said it has secured a commitment from private investment firm Perseus LLC for $75 million in debtor-in-possession financing, an agreement that may help the struggling airline emerge from bankruptcy sooner rather than later.

Pending bankruptcy court approval of the agreement, Perseus will also served as an equity sponsor of the airline's reorganization plan, Frontier said. Once the firm emerges from Chapter 11 protection, the deal would allow Perseus to acquire a 79.9% majority stake in the reorganized company for $100 million....
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