Hartshorne Holdings gets final approval to access $7.63 million loan

By Caroline Salls

Pittsburgh, March 31 – Hartshorne Holdings, LLC obtained final court approval to access $7.63 million in debtor-in-possession financing, according to an order filed Monday in the U.S. Bankruptcy Court for the Western District of Kentucky.

Tribeca Global Resources Credit Pty Ltd. is the DIP financing agent.

The facility will mature 120 days after closing, subject to a 30-day extension if the company has received one or more qualified bids for its assets.

Interest will accrue at a rate of 10%.

In addition, Hartshorne will be required to a pay a 2.5% drawdown fee, a $50,000 DIP agent fee and a $17,500 DIP security trustee fee.

Rumsey, Ky.-based Hartshorne develops and operates coal mining projects in the United States. The company filed bankruptcy on Feb. 20 under Chapter 11 case number 20-40133.

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