Tiger reached an accord with lenders on debt issue.
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The Century City-based parent of Flying Tiger Line said it will make a $50-million “down payment” on a $148-million debt to its North American Car subsidiary and 30 banks. Earlier this year, Tiger issued 8 million shares of convertible stock to help raise the funds. North American, a railroad-car manufacturer based in Chicago, is being liquidated under supervision of a bankruptcy judge, who must approve the Tiger debt-retirement plan.
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