Anchor Glass Container Corp has emerged from bankruptcy, closing its $125M exit financing facility with Credit Suisse. "During the course of our reorganisation we successfully re negotiated multi-year contracts with substantially all of our contract customers and suppliers," said Mark Burgess, Anchor's CEO. "Our debt load has been substantially reduced and we obtained our exit financing on favourable terms." Under the terms of the reorganisation, the company's senior secured note holders will own the majority of the company's equity. The company is exiting Chapter 11 as a privately held company. "We look forward to working with our new board of directors and shareholders in becoming an even stronger competitor with a high quality product in the glass container market," said Mr Burgess. Anchor Glass is one of the largest glass container makers in the USA.
