Bensalem, Pennsylvania-based Orleans Homebuilders, which filed for bankruptcy protection last March after defaulting on a credit facility, sought court approval this week for a $155 million loan.

The loan would facilitate the company's emergence from Chapter 11 bankruptcy and be composed of a $125 million term loan and a revolving credit of $30 million.

JPMorgan Securities LLC is the sole lead arranger and bookrunner for the financing.

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