Express Grain’s motion for $30.3 million DIP facility withdrawn

By Sarah Lizee

Olympia, Wash., Feb. 15 – Express Grain Terminals, LLC’s motion seeking court approval to enter into a $30.3 million debtor-in-possession revolving line of credit was withdrawn on Tuesday, according to court documents filed with the U.S. Bankruptcy Court for the Northern District of Mississippi.

UMB Bank, NA would have been the lender on the facility, which would have been subject to a borrowing base.

The DIP facility was to bear interest at 6¼% per annum and mature on March 18.

Greenwood, Miss.-based Express Grain Terminals is an agricultural processing and marketing company. It filed bankruptcy on Sept. 29 under Chapter 11 case number 21-11832.

© 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.