Pliant Gets $200M Exit Loan

Law360, New York (May 23, 2006, 12:00 AM EDT) -- Pliant Corp., a producer of packaging products, is coming ever closer to wrapping up its Chapter 11 proceedings, after reaching an agreement with Merrill Lynch Commercial Finance Corp. on a $200 million exit loan.

“We believe the new credit facility will provide liquidity and cash flows needed to execute our business plan and enable Pliant to invest in its business on a sustained basis,” Pliant president and CEO Harold Bevis said in a statement.

The package will replace Pliant’s prepetition revolver and debtor-in-possession credit lines from...
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