BRIEF-Neiman Marcus Says Obtains Court Approval For First Day Motions
- Country:
- United States
Neiman Marcus: * NEIMAN MARCUS GROUP OBTAINS COURT APPROVAL FOR FIRST DAY MOTIONS
* RECEIVES INTERIM APPROVAL OF $675 MILLION DEBTOR-IN-POSSESSION LOAN FROM CREDITORS, ENABLING BUSINESS CONTINUITY IN CHAPTER 11 PROCEEDINGS * UPON EMERGENCE, COMPANY'S PLANNED CAPITAL STRUCTURE IS ANTICIPATED TO BE LONG-DATED WITH NO NEAR-TERM MATURITIES
* UPON EMERGENCE, CO'S PLANNED CAPITAL STRUCTURE IS ANTICIPATED TO ELIMINATE $4 BILLION OF EXISTING DEBT * HAS COMMENCED VOLUNTARY CHAPTER 11 PROCEEDINGS IN U.S. BANKRUPTCY COURT FOR SOUTHERN DISTRICT OF TEXAS, HOUSTON DIVISION. Source text for Eikon: Further company coverage:
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