A&P Secures Exit Financing, Slates Reorg Plan Confirmation
Great Atlantic & Pacific Tea Co. (A&P) has slated a confirmation hearing for February 27 for U.S. Bankruptcy Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York to confirm the company’s amended plan of reorganization after it finalized its exit financing, a Supermarket News.com article said.
The amended plan of reorganization changed language used to describe how some creditors would be treated if the company had to resort to a sale.
As previously announced on abfjournal.com, A&P will receive $750 million consisting of a $400 million revolver and a $350 million term loan from J.P. Morgan chase and Credit Suisse.
To read the Supermarket News.com article, click here.
Previously on abfjournal.com: