Mississippi Phosphates allowed two-month stretch of interim DIP access

By Kali Hays

New York, April 27 – Mississippi Phosphates Corp. received an extension of its interim access to $1.5 million of a proposed $5 million debtor-in-possession facility through June 15 under a Monday order from U.S. Bankruptcy Court for the Southern District of Mississippi.

As previously reported, the financing was set to expire on April 24 and was also increased by $500,000 under a second amended interim term sheet approved at the end of March.

The financing will be used to fund administrative and operational costs of the company’s Chapter 11 cases.

Mississippi Phosphates, a Pascagoula, Miss., fertilizer company, filed for bankruptcy on Oct. 27, 2014. The Chapter 11 case number is 14-51667.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.