Closing of New ABL Facility
Posted on 30. Mar, 2010 by admin in Engagements, Hamernik Headlines
March 3, 2010 – After leading the completion of a late 2009 restructuring in which several million of debt was compromised in a composition agreement, funded through a contribution agreement which re-capitalized the company to fund the payments and provide working capital, Hamernik LLC closed a new ABL facility for the company, providing 85% eligibility on accounts receivables. Pricing was P+2 plus certain fees, allowing for more liquidity and the majority owner to re-pay an interim bridge loan.
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Closing of New ABL Facility
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