Exide Locks Down 3-Month Extension On $560M DIP

Law360, New York (October 10, 2014, 8:04 PM EDT) -- Battery maker Exide Technologies Inc.'s debtor-in-possession lenders have agreed to push back the maturity date on $560 million in bankruptcy financing, affording the debtor three more months for negotiations with noteholders around a stand-alone restructuring in return for certain concessions.

All the necessary lenders have consented to the alterations to Exide's debtor-in-possession facility, which will now come due on March 31 rather than Dec. 31, according to a company statement released Friday. Georgia-based Exide said it is still exploring possible ways to pay back or refinance the facility and bring in more cash to fund its reorganization.

The amendment comes amid...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related Sections

Case Information

Case Title

Subscribers Only

Case Number

Subscribers Only

Court

Subscribers Only

Nature of Suit

Subscribers Only

Judge

Subscribers Only

Date Filed

Subscribers Only

Law Firms

Companies