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BI-LO, Llc
BI-LO Receives Interim Court Approval of Revised Financing Facility
April 25th, 2009
BI-LO, LLC and certain affiliates (the "Company") announced it has received interim Court approval of a revised debtor-in-possession ("DIP") financing facility of $125 million received from GE Capital. "We are pleased to have reached this agreement and to have received interim Court approval to access this DIP financing. Over the course of the past week, we have evaluated several DIP financing proposals from multiple lenders. The revised agreement we have reached with GE Capital provides us with more liquidity on better overall terms than originally proposed," said Michael Byars, President and Chief Executive Officer of BI-LO. Mr. Byars added, "While...
Source: Law & Health Weekly (2009-04-25)
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