Exide seeks approval to borrow $65M
Jul 09, 2014 | 11:06 AM
| Saranya Kapur
NEW YORK Exide Technologies Ltd. is seeking permission to borrow an additional $65 million from its bankruptcy creditors, according to documents filed in U.S. Bankruptcy Court in Delaware.
The loan would allow Exide to continue operating through the fall and winter. "Each year, from summer through fall, (Exides) working capital needs spike as it builds adequate inventory to meet increased demand in the fall and winter months," Exide said in the filing. A hearing is....
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