Business First
Horizon PCS Inc. has lined up $125 million in financing to help it emerge from Chapter 11 bankruptcy proceedings.
On Tuesday, the Chillicothe-based company announced that it had formed Horizon PCS Escrow Co. which has completed an offering of $125 million in senior notes due in 2012. The two entities plan to merge if Horizon PCS Inc. successfully emerges from bankruptcy. Horizon PCS Inc. then will be an obligor under the notes. The new escrow company, however, will expire if Horizon does not leave Chapter 11 by Nov. 16. "
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