VeraSun Seeks Additional $30M In DIP Financing

Law360, New York (November 6, 2008, 12:00 AM EST) -- Ethanol producer VeraSun Energy Corp. has asked a bankruptcy judge to approve a new $30 million credit facility for some of its subsidiaries, part of a projected $250 million the company plans to obtain in debtor-in-possession financing.

In a motion filed Wednesday in the U.S. Bankruptcy Court for the Southern District of Florida, VeraSun said that it was still in the process of negotiating the financing agreement with a group of prepetition lenders led by WestLB AG.

The financing would be used to fund the operations...
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