I.B.C. asks lenders to increase borrowing capacity

by Eric Schroeder
Share This:

KANSAS CITY — Interstate Bakeries Corp. on Wednesday asked its lenders to increase the aggregate principal amount available under the DIP agreement to $250 million from $200 million as well as extend the maturity date of the agreement to Sept. 30. In exchange, I.B.C. said it would request proposals from interested buyers by April 21. In addition, I.B.C. agreed to deliver by June 30 a schedule of asset sales that the company believes will generate proceeds sufficient to reduce outstanding commitments under the DIP agreement to zero.

Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.

The views expressed in the comments section of Food Business News do not reflect those of Food Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.