Mississippi Phosphates eyes two-month extension of interim DIP access

By Kali Hays

New York, April 24 – Mississippi Phosphates Corp. asked the U.S. Bankruptcy Court for the Southern District of Mississippi to extend its interim access to $1.5 million of a proposed $5 million debtor-in-possession facility to June 15, according to a Friday motion.

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

As previously reported, 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. The Chapter 11 case number is 14-51667.

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