It said it hopes to get a commitment from the prospective lenders, which include affiliates of GE Capital, the financing arm of General Electric Co. (GE.N), and Merrill Lynch (MER.N) as soon as those companies complete their due diligence.

Lining up the funding now will allow Global Crossing to emerge from bankruptcy with its working capital and credit agreements already in place, Global Crossing said in a filing with the U.S. Bankruptcy Court for the Southern District of New York.

Getting the working capital finalized "will facilitate the mechanics of obtaining such a facility and will enhance the business prospects of New Global Crossing."

A majority of Global Crossing is slated to be sold to Hutchison Whampoa Ltd.'s (0013.HK) unit Hutchison Telecommunications and government-run Singapore Technologies Telemedia. The deal has been approved by the bankruptcy court, but still must be approved by the U.S. Committee on Foreign Investment.

Global Crossing withdrew its application before that committee and may reconfigure its sale agreement due to national security concerns over a U.S. telecommunications network being controlled by a company with strong ties to China.

Pentagon adviser Richard Perle said on Friday that Global Crossing approached him for advice on a possible restructuring of the deal. Perle, who is chairman of the influential Defense Policy Board that advises the Secretary of Defense, said he would follow the ethics rules regarding his contract with Global Crossing.