We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Global Power Scores $85M DIP Loan

Law360 (November 22, 2006, 12:00 AM EST) -- Global Power Equipment Group Inc. has received a commitment for a debtor-in-possession loan from Morgan Stanley Senior Funding Inc. for up to $85 million, the bankrupt company said on Tuesday.

The loan is still subject to approval from the U.S. Bankruptcy Court for the District of Delaware, and is subject to further due diligence by Morgan Stanley, Global Power said.

The DIP credit facilities will be used to refinance the company’s existing secured revolving debt and term loan, take care of performance obligations under letters of...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.