Bankrolled

Mirant Emerges from Chapter 11 Bankruptcy, Prepares to Relist Stock

Bankrolled by $2.35 billion in exit financing, Atlanta-based Mirant Corp. announced Tuesday it has successfully emerged from Chapter 11 bankruptcy protection, completing the court-approved steps needed to put its reorganization plan in effect. Under the plan, Mirant will convert more than $6 billion of debt and liabilities into equity in the reorganized company, while cutting in half its overall debt.

January 4, 2006