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....
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.