November 30, 2016 / 7:02 PM / a year ago

BRIEF-Performance Sports Group receives court approval of the "stalking horse" purchase agreement

Nov 30 (Reuters) - Performance Sports Group Ltd :

* Performance Sports Group receives court approval of the “stalking horse” purchase agreement, bidding procedures and U.S. $386 million in new DIP financing

* Will use DIP financing to refinance prepetition term loan credit agreement and fund day-to-day operations

* To move forward as planned to effect an orderly sale of business as a going concern

* Will use DIP financing to refinance prepetition term loan credit agreement, dated as of April 15, 2014, as amended

* Approved bidding procedures schedule auction for January 30, 2017

* With approval to access $386 million in financing, together with ABL DIP, expect to have sufficient liquidity to fund ongoing operations Source text for Eikon: Further company coverage:

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