Davis Polk is advising JPMorgan Chase Bank, N.A. as administrative agent and collateral agent, and J.P. Morgan Securities LLC, as sole bookrunner and sole lead arranger for $800 million of debtor-in-possession credit facilities for The Great Atlantic & Pacific Tea Company, Inc. (A&P). The credit facilities were approved by an interim order entered by the U.S. Bankruptcy Court for the Southern District of New York on December 13, 2010 and by a final order entered on January 11, 2011.

The final order and the DIP credit agreement, which became effective on December 14, 2010 provide for a $350 million term loan facility (which was funded on the effective date and used in part to prepay outstanding loans under a prepetition credit facility agented by Bank of America, N.A.) and a $450 million revolving credit facility, approximately $200 million of which have been used to backstop A&P’s outstanding letters of credit under the prepetition credit facility.

A&P operates 395 stores in the United States under six retail banners that include conventional supermarkets, food and drug combination stores, discount food stores and in-store health clinics.

The Davis Polk insolvency and restructuring team includes partners Donald S. Bernstein and Marshall S. Huebner and associates Lynn Poss, Brian Rooder, Michelle M. McGreal and Luis A. Bacalao (not yet admitted) and legal assistants Marguerite M. Melvin and Elliot C. Law. The credit team includes partners Jinsoo H. Kim and Bradley Y. Smith and associates Meyer C. Dworkin, Angela Doolan, Michelle B. Galdos and Adam J. Ross and legal assistant Sonya Jackman. The real estate team includes counsel James P. McIntyre and associates Aaron M. Sacks and Joshua Erez and legal assistant Kathleen T. Ray. The tax team includes partner Michael Farber and associates Aharon Illouz and Brian Radigan. Associate Pritesh P. Shah is providing intellectual property advice. Associate Ann Becchina is providing ERISA advice. All members of the Davis Polk team are based in the New York office.