WCI Steel asks court to extend DIP maturity

By Jeff Pines

Washington, Nov. 9 - WCI Steel Inc. asked the U.S. Bankruptcy Court for the Northern District of Ohio Tuesday to extend the maturity on its debtor-in-possession financing to Jan. 17.

The DIP is scheduled to mature on Nov. 16.

If approved, WCI will pay a $100,000 fee for the amendment to the agent for the facility, Congress Financial Corp.

The Warren, Ohio.-based steel company said it needs the amendment because it will not be able to confirm a reorganization plan before Nov. 16.

WCI filed for bankruptcy on Sept. 16, 2003. Its Chapter 11 case number is 03-44662.

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