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In a prepackaged bankruptcy, a debtor restructures outstanding debt, often through a creditor's committee, before filing a chapter 11 bankruptcy petition.
The drawdown of the bank facility provides Delphi with short-term operating liquidity as it seeks to restructure its operations through concessions from the UAW.
IMPSAT Brazil", and collectively with IMPSAT Argentina, the "Borrowers"), executed definitive amended and restated financing agreements to restructure $125.