Hawker Beechcraft Scores Access To $400M DIP Facility

Law360, New York (May 4, 2012, 6:38 PM EDT) -- A New York bankruptcy judge on Friday approved an interim $400 million debtor-in-possession financing package for bankrupt aircraft manufacturer Hawker Beechcraft Inc., which entered Chapter 11 protection Thursday seeking to trim $2.5 billion from its balance sheet.

In a first-day hearing before U.S. Bankruptcy Judge James M. Peck, an attorney for the debtor requested access to $300 million of the DIP facility, which will consist of $109 million to pay off a $124 million bridge loan advanced in March, $35 million in fees, $16 million in...
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