Dow Jones Newswires has reported that U.S. Bankruptcy Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York has granted permission for Great Atlantic & Pacific Tea Co. (A&P) to receive $750 million in exit financing, consisting of a $400 million revolver and a $350 million term loan from J.P. Morgan Chase and Credit Suisse.

The article noted that J.P. Morgan will provide $75 million of the revolver and Credit Suisse will offer $25 million. The rest of the financing will come from others lenders.

Judge Drain has slated a hearing for February to approve A&P’s Chapter 11 exit plan. Previously, he granted his approval for the company to file its own plan without other rival plans.

Previously on

A&P to Close 14 Stores as Part of Turnaround Strategy, Tuesday, January 10, 2012