Permico trustee, lender agree to extend DIP financing to Sept. 22

By Sarah Lizee

Olympia, Wash., June 8 – Permico Midstream Partners Holdings, LLC’s court-appointed Chapter 11 trustee, William R. Greendyke, and debtor-in-possession lender Integra Midstream Partners, LLC have agreed to extend the maturity date of the $750,000 DIP financing to Sept. 22, according to a notice filed Tuesday with the U.S. Bankruptcy Court for the Southern District of Texas.

The financing is secured by a first-priority deed of trust lien on all of the debtors’ real property in Nueces County, Tex., and a second-priority lien on a pipeline right of way, as previously reported.

The facility bears interest at 12.5% per annum. There is a 3% lender fee.

Permico Midstream is a Houston-based crude petroleum and natural gas company. The company filed bankruptcy on May 4, 2020 under Chapter 11 case number 20-32437.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.