Court oks financing deal for Marcal Paper Mills
Jan. 5, 2007 - Marcal Paper Mills, Inc., said that the Court approved a loan commitment to the company for up to $84.5 million Debtor-in-Possession (DIP) financing from Highland Financial Corporation, including the immediate availability of a $20 million revolving credit facility.
The financing package will allow the company to use all of its cash balances and provide it with greater liquidity to fund normal business operations during the restructuring process, Marcal said.
SOURCE: Marcal Paper Mills, Inc.
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