National Envelope Lands $67.5M Loan To Keep From Folding

Law360, Wilmington (June 11, 2013, 9:10 PM EDT) -- Private-equity owned envelope maker NE Opco Inc., which does business as National Envelope, sealed a chance to keep operating through Chapter 11 after a Delaware bankruptcy judge gave interim approval to a $67.5 million post-petition loan that will pay off a group of senior creditors.

U.S. Bankruptcy Judge Christopher S. Sontchi gave the go-ahead for Texas-based National Envelope to use $60 million of the debtor-in-possession financing on an interim basis, a portion of which is slated to pay in full about $50 million in senior prepetition...
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