The U.S. Bankruptcy Court issued an order approving and authorizing the Debtors’ entry into an amendment to its incremental foreign loan facility.
As previously reported, “In accordance with the Final DIP Order, on May 6, 2016, June 3, 2016, July 15, 2016, and August 9, 2016, respectively, the Debtors entered into non-material amendments in order to, among other things, draw upon the DIP Facility and incur Incremental Foreign Loans under the Incremental Foreign Loan Facility. The Debtors now require incremental liquidity to operate their businesses, and have requested additional funding through the DIP Accordion. Certain of the Tranche B DIP Lenders have agreed to provide the Debtors with $10.4 million of incremental liquidity among other things draw upon the DIP Facility and incur Incremental Foreign Loans under the Incremental Foreign Loan Facility.”
Read more SFX bankruptcy news.