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Real Industry Bankruptcy Deadline Fixed, Proposal Received

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Real Industry filed with the U.S. Bankruptcy Court a notice of stalking horse proposal deadline and submission of a credit bid proposal from the Company’s pre-petition lenders.

The notice states, “The Debtors intend to work with the Required DIP Noteholders to finalize the terms of the Credit Bid Proposal, which shall be documented in a definitive agreement providing for a credit bid for the Assets (the ‘Noteholder Credit Bid’). The Noteholder Credit Bid shall be binding only upon execution and delivery by all parties thereto. Pursuant to paragraph 18(b) of the Bidding Procedures Order, once the Noteholder Credit Bid is submitted, from that point forward the Debtors shall not consult with the parties submitting the Noteholder Credit Bid in connection with any issue related to the sale of the portion of the Assets that is the subject of the Noteholder Credit Bid (including, without limitation, regarding whether any Noteholder Credit Bid is the highest or otherwise best offer and the Successful Bid), unless and until such parties revoke the Noteholder Credit Bid.”

In addition, “The Debtors intend to file a notice, which shall include a copy of the Noteholder Credit Bid, when the transaction documents are finalized. Notwithstanding receipt of the Credit Bid Proposal or entry into any Noteholder Credit Bid, the Debtors will continue to consider and evaluate all Qualified Bids for the Assets, in consultation with the Consultation Parties (subject to paragraph 18(b) of the Bidding Procedures Order), to determine the highest and otherwise best offer for the Assets and whether to conduct an Auction.”

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