Kansas City / MO. (ibc) A bankruptcy judge approved Interstate Bakeries Corporation´s (IBC) new financing agreement with GE Capital Corporation, moving the baker closer to emerging from Chapter 11 bankruptcy. The order, filed in U.S. Bankruptcy Court for the Western District of Missouri, allows IBC to enter into a 105 million USD revolving credit facility with GE Capital as part of its reorganization plan. On February 09, the Kansas City, Missouri-based company´s debtor-in-possession financing matures, and its exit financing commitments expire. CEO Craig Jung characterized the agreement with GE Capital as «the last significant obstacle to our emergence». The maker of iconic Wonder Bread and Hostess Twinkies filed for bankruptcy in September 2004.
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