Aspect Software granted interim access to $10 million of DIP financing

By Caroline Salls

Pittsburgh, March 14 – Aspect Software, Inc. received interim court approval to access up to $10 million of a proposed $30 million of debtor-in-possession financing from some holders of its first-lien claims, according to an order filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

The final hearing is scheduled for April 4.

Wilmington Trust, NA is the administrative and collateral agent.

Interest will be Libor plus 975 basis points with a 1% Libor floor.

The DIP facility will mature on Sept. 30, 2016.

Aspect is a Phoenix-based cloud provider of fully integrated consumer engagement, workforce optimization and back-office solutions. The company filed bankruptcy on March 9 under Chapter 11 case number 16-10597.

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