Indalex Reaches $85M DIP Financing Deal

Law360, New York (April 8, 2009, 12:00 AM EDT) -- Bankrupt Indalex Holdings Finance Inc. has struck a deal with its senior lender group to provide nearly $85 million in debtor-in-possession financing to help run operations as the aluminum customizer works through the U.S. reorganization process.

The company, which filed for Chapter 11 last month in the U.S. Bankruptcy Court for the District of Delaware, also said Wednesday that its units had launched parallel restructuring proceedings in Canada.

Citing financial constraints from the global economic slowdown, Indalex Ltd. and Indalex Canada submitted their filing to the...
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