Spirit Nears $475 Million of Financing for Bankruptcy (1)

Spirit Aviation Holdings Inc.’s lenders have agreed to give the company as much as $475 million of bankruptcy financing to fund the carrier’s restructuring.

The financing — if approved in court — would be provided by a group of bondholders that backed the airline’s first trip through bankruptcy, Spirit lawyer Marshall Huebner said during a Tuesday court hearing in New York.

The financing will include a so-called roll-up of some of Spirit’s existing debt, which would push those obligations to the top of the Chapter 11 repayment line. Additional details will be included in papers expected to be filed ...