Arcapita Eyes $150M DIP Deal By Tuesday

Law360, New York (October 19, 2012, 6:46 PM EDT) -- Arcapita Bank BSC(c) is inching closer to reaching a $150 million post-petition financing agreement with Silver Point Finance LLC, telling a New York bankruptcy judge Friday that the parties would try to reach a consensus by a Tuesday hearing on the matter.

The Bahraini investment bank is seeking the debtor-in-possession financing to help it maximize the value of crucial Arcapita Group portfolio companies and investments, and bridge its cash needs until its projected first-quarter 2013 emergence from Chapter 11 protection.

The motion was the subject of...
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