NBG Home gets approval to upsize DIP facility by $1.85 million

By Sarah Lizee

Olympia, Wash., June 16 – Nielsen & Bainbridge, LLC, which does business as NBG Home, received approval to amend its debtor-in-possession facility and increase it by $1.85 million, according to an order filed Friday with the U.S. Bankruptcy Court for the Southern District of Texas.

As background, the company entered into a restructuring support agreement with lenders holding the majority of its debt, comprised of credit funds and accounts managed by KKR Credit Advisors (US) LLC and funds managed by Silver Point Capital, LP.

Under the agreement, the company received a $60 million DIP facility via KKR and Silver Point. The facility consists of $30 million in new money and a $30 million rollup of prepetition loans.

A prior amendment lifted the new-money component by $6.3 million. The latest amendment brings the new money amount to $38.15 million.

The home decor company is based in Austin, Tex. The company filed bankruptcy on Feb. 8 under Chapter 11 case number 23-90071.

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