CWA Receives Final Court Approval for $100M Financing

The U.S. Bankruptcy Court granted final approval for the $100 million debtor-in-possession (DIP) credit facility being provided by Cable and Wireless plc to Cable & Wireless USA, Inc. and Cable & Wireless Internet Services (CWA). The company said the new credit facility would supplement its other sources of liquidity.

On 08-December-2003, in CWA and certain of its affiliates filed for Chapter 11 bankruptcy as a condition to the proposed sale of substantially all of the CWA assets to an affiliate of Gores Technology Group, LLC. http://www.cwusa.com