Agspring Mississippi gets OK of $1.5 million back-up DIP financing

By Sarah Lizee

Olympia, Wash., Nov. 4 – Agspring Mississippi Region LLC secured court approval to enter into a $1.5 million debtor-in-possession back-up term loan facility if needed, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The lenders are LVS II SPE XVIII LLC and HVS V LLC.

Interest is 9%, with default interest an incremental 2%.

The facility will mature on Jan. 1.

Agspring Mississippi Region is an agriculture supply chain services company based in Leawood, Kan. The Chapter 11 case number is 21-11238.

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