Some of its lenders will provide $250 million in debtor-in-possession financing, approximately $42 million of which constitutes new money commitments.In addition, Revel's lenders have committed $335 million in exit financing, which consists of a $75 million revolver and $260 million term loan. The proceeds of the exit financing will be used to provide Revel with additional working capital, pay for some capital expenditures, repay the debtor-in-possession financing and pay expenses related to the restructuring when Revel emerges from bankruptcy court, the company said.
NJ Revel Casino Files For Bankruptcy
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