- Declaration of CEO in Support of Filing (where you will find a good background of the case)
- Declaration of J. Blake O'Dowd, Managing Director of Lazard, in support of debtor's motion for DIP Financing (good break down of capital structure - see below)
- $350M First-Out DIP ABL Revolver, $250M Second-Out Term Loan
- Pricing on Term Loan: L+750, 1.50% Floor, with OID TBD (I'm hearing 99)
- Use of Proceeds: Refinance pre-petition revolver, fees, and GCP
"Lazard’s efforts were met with a general market unwillingness to provide the Debtors with additional financing or to increase the Debtors’ borrowing base. The lack of market interest in an out-of-court restructuring, coupled with the Debtors’ increasing needs to service, and in the near term refinance the majority of, their long term debt obligations, convinced the Debtors that an out-of-court restructuring was becoming increasingly unlikely."