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UPDATE 1-Interstate Bakeries in "productive" talks with lender

NEW YORK, Jan 13 (Reuters) - Interstate Bakeries Corp IBCIQ.PK, the bankrupt maker of Wonder Bread and Twinkies treats, said on Tuesday that it is in "productive discussions" with lender GE Capital Corp regarding a credit agreement that has been delaying its bankruptcy exit.

The company said it is working with the General Electric Co GE.N unit to finalize documentation for an asset-based revolving credit agreement and that it is hopeful the documentation will be finalized "in the very near future."

Once the agreement is finalized, the company said it is hopeful its bankruptcy exit financing will close.

“All parties in the discussion are focused on the importance of completing the transaction, in order to allow IBC to emerge from Chapter 11,” the company said in a statement.

General Electric Capital Corp and GE Capital Markets agreed last year to provide $125 million in revolving credit to the company.

Interstate Bakeries is facing a Feb. 9 deadline on its debtor-in-possession financing. The company had intended to emerge from its lengthy bankruptcy before the end of December. (Reporting by Emily Chasan; Editing by Phil Berlowitz)

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