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MD Helicopters is granted final approval of $60 million DIP loan
Chicago, April 28 – MD Helicopters, Inc. has final approval for its $60 million superpriority secured debtor-in-possession credit agreement, according to an order filed with the U.S. Bankruptcy Court for the District of Delaware.
The administrative agent and collateral agent is Acquiom Agency Services LLC.
The maturity date is 150 days from the petition date.
MD can make up to four borrowings of up to $12.5 million each.
There is a 5% exit fee.
Interest will be 8.5%.
The company also has been granted approval to use the cash collateral of its secured creditors.
The Mesa, Ariz.-based helicopter manufacturer filed Chapter 11 bankruptcy on March 30 under case number 22-10263.
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