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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. Avenue and Toronto-based insurer Fairfax
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