Loyalty Ventures receives interim approval to access cash collateral

By Sarah Lizee

Olympia, Wash., March 13 – Loyalty Ventures Inc. received interim approval to access cash collateral that its prepetition secured lenders have an interest in, according to an interim order filed Friday with the U.S. Bankruptcy Court for the Southern District of Texas.

The lenders are party to a $175 million term loan A, a $500 million term loan B and a $150 million revolver. Bank of America, NA is the administrative and collateral agent.

Loyalty Ventures is a Dallas-based operator of consumer rewards programs. The Chapter 11 case number is 23-90111.

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