BI-LO Files Ch. 11, Nabs DIP From GE March 27, 2009

BI-LO filed for Chapter 11 last Monday in order to address an upcoming debt maturity, the company said. It has received a $100 million debtor-in-possession facility arranged by GE Capital, with a $45 million sublimit for letters of credit. The DIP is priced at LIBOR plus 4 1/2% or Base Rate plus 2 3/4%. The company, which operates supermarkets in South Carolina, North Carolina, Georgia and Tennessee, is headquartered in Mauldin, S.C. Its term loan remained unchanged at ...

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