DIP Loans Prop Up AbitibiBowater

Avenue Capital, Fairfax Financial agree to $206 million DIP loan for AbitibiBowater.


New York hedge fund firm Avenue Capital Group is joining forces with a Canadian insurance holding company to prop up North America’s biggest producer of pulp and paper. The manufacturer, Montreal-based AbitibiBowater, listed debts exceeding $6 billion when it filed for bankruptcy protection in April.

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