Mississippi Chemical amends DIP giving it more time to file a reorganization plan

By Jeff Pines

Washington, Aug. 3 - Mississippi Chemical Corp. and its debtor-in-possession lenders agreed to change a requirement in the company's facility giving it more time to file a reorganization plan.

The original $182.5 million DIP agreement gave the company until July 31 to file a plan but the change will give it until Aug. 23, according to a Tuesday 8-K filing with the Securities and Exchange Commission.

Citicorp North America, Inc. is administrative agent for the facility and Citigroup Global Markets, Inc. and Perry Principals Investments LLC are the joint lead arrangers.

The Yazoo City, Miss.-based nitrogen and phosphorus products company filed for bankruptcy on May 16, 2003. Its Chapter 11 case number is 03-02984.

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