Quebecor World Inc. of Montreal has received final approval for the $1 billion debtor-in-possession financing. The order was approved by Judge James Peck of the Southern District of New York.

The $1 billion financing is comprised of a term loan of $600 million and a revolving loan facility of $400 million. The printer also has unrestricted cash on hand of $110 million and undrawn availability under the $400 million revolver, giving it liquidity of approximately $500 million. In addition, the company has exceeded, by approximately $160 million, its cash flow projections.

According to a company statement, the liquidity and favorable cash flow reflect a clear path for the company’s eventual emergence from creditor protection.