Allied Adds To DIP Loans

Law360, New York (July 5, 2006, 12:00 AM EDT) -- Allied Holdings Inc. has received bankruptcy court permission to add $30 million to its debtor-in-possession financing, the company said on Friday.

The additional financing is the fifth amendment to the auto supplier’s DIP credit facility with lenders through a new Term Loan C, provided by equity firm Yucaipa Cos. and Morgan Stanley Senior Funding Inc.

The money will be used to repay protective over-advances obtained under the existing facility, to reduce the principal amount of Allied’s revolving credit advances, and for capital expenditures and other working...
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