Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for Haggen Holdings, LLC > News item |
Haggen granted interim approval to use $215 million in DIP financing
By Caroline Salls
Pittsburgh, Sept. 10 – Haggen Holdings, LLC received interim court approval to obtain $215 million of debtor-in-possession financing from its pre-bankruptcy lenders, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.
The final hearing is scheduled for Oct. 5.
PNC Bank, NA is the DIP loan agent.
Interest will accrue at the alternate base rate plus 300 basis points.
The facility will mature on the earliest of Feb. 5, the effective date of a reorganization plan, the closing of the core stores sale, conversion or dismissal of the Chapter 11 case and the 22nd day after the bankruptcy filing date if a final order has not been entered.
Haggen, a Bellingham, Wash.-based supermarket company, filed bankruptcy on Sept. 8. The Chapter 11 case number is 15-11874.
© 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.