Eye Care Leaders gets interim access to $1.3 million of DIP loan

By Sarah Lizee

Olympia, Wash., Jan. 29 – Eye Care Leaders Portfolio Holdings, LLC received interim approval to access $1.3 million of an $8 million debtor-in-possession facility, according to an order filed Monday with the U.S. Bankruptcy Court for the Northern District of Texas.

The lender is Create Capital, LLC.

The facility is set to mature on July 31 and bear interest at a fixed rate of 15% per annum, accruing monthly, payable in arrears and payable in kind.

Eye Care Leaders also received interim approval to use the cash collateral of the lender.

A final hearing is scheduled for Feb. 15.

Eye Care Leaders is a Durham, N.C.-based practice management software provider for eye doctors. The company filed bankruptcy on Jan. 16 under Chapter 11 case number 24-80001.

© 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.