Mississippi Phosphates gets extended access to interim DIP financing

By Kali Hays

New York, March 11 – Mississippi Phosphates Corp. received a renewal and extension of its access to $550,000 of debtor-in-possession financing on Tuesday from the U.S. Bankruptcy Court for the Southern District of Mississippi.

Specifically, Mississippi Phosphates’ interim DIP financing will remain in effect for 45 days from the date the renewed order is entered. The initial interim order called for the financing to expire 30 days after entry of the interim order if no final order had been entered.

Under the renewed order, the DIP facility will mature on April 13.

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

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