Dan River gets final approval for $145 million DIP facility

By Jeff Pines

Washington, May 28 - Dan River Inc. obtained final approval for its $145 million debtor-in-possession financing facility through a group of banks led by Deutsche Bank Trust Co. Americas, the company said.

The facility, which includes a $110 million revolver and a $35 million term loan, matures on March 31, 2005.

Dan River, a Danville, Va.-based textile firm, filed for bankruptcy on March 31 with the U.S. Bankruptcy Court for the Northern District of Georgia. Its Chapter 11 case number is 04-10990.

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