After 2 1/2 years, Atlanta power producer Mirant Corp. emerged from bankruptcy protection and secured $2.35 billion in exit financing, it said late Tuesday.

The company, which filed for Chapter 11 in July 2003 in the U.S. Bankruptcy Court in Fort Worth, Texas, after failing to reach a deal with creditors to restructure its debt, has cut its work force, sold hundreds of millions in assets and converted more than $6 billion in debt and liabilities into equity under its reorganization.

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