Frontier Gets OK For Up To $6.5B In Ch. 11 Financing
Law360 (September 16, 2020, 7:10 PM EDT) -- A New York bankruptcy judge on Wednesday gave cable provider Frontier Communications Corp. permission to take out as much as $6.5 billion in debtor-in-possession financing to keep itself in business as it works toward finalizing its Chapter 11 plan.
At a remote hearing, U.S. Bankruptcy Judge Robert Drain approved the package, which will enable Frontier to draw on between $2.3 billion and $6.5 billion to fund the business in what could be a monthslong wait for its Chapter 11 plan to go into effect.
Frontier filed for Chapter 11 protection in April, saying issues with integrating recent acquisitions, "fierce" competition, changing...
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