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Pilgrim's Pride Corporation
Pilgrim's Pride Corporation Receives Final Court Approval of Access to $450 Million in Debtor-In-Possession Financing
January 17th, 2009
Pilgrim's Pride Corporation (Pink Sheets: PGPDQ) announced that it has received final approval from the United States Bankruptcy Court for the Northern District of Texas of its $450 million debtor-in-possession financing facility arranged by Bank of Montreal as lead agent. Earlier this month, the company had received interim approval to access up to $365 million of its $450 million debtor-in-possession financing facility pending a final hearing. The DIP financing facility, combined with cash flows generated from ongoing operations, allows the Company to continue its business operations on a normalized basis consistent with its pre-bankruptcy practices. ...
Source: Law & Health Weekly (2009-01-17)
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