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Judge approves A&P bankruptcy exit financing


New York City -- The judge in the Great Atlantic & Pacific Tea Company’s Chapter 11 bankruptcy case on Tuesday approved a $750 million exit financing plan for the supermarket operator.

The approval moves A&P closer toward exiting Chapter 11 and operating as a privately held company.

The financing package consists of a $400 million revolving loan and a $350 million term loan from J.P. Morgan Chase and Credit Suisse.

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