Silicon Graphics Gets $130M In DIP Loans

Law360, New York (June 27, 2006, 12:00 AM EDT) -- A bankruptcy court approved up to $130 million in debtor-in-possession loans from several bondholders for Silicon Graphics Inc., allowing the high-end computer manufacturer to proceed with its Chapter 11 restructuring.

SGI will use the loan to finance company operations during its bankruptcy, pay off $76 million to pre-bankruptcy lenders Wells Fargo and Ableco Finance, and pay off $28 million it owes under another DIP loan from the same bondholders, Quadrangle Master Funding Ltd., Watershed Technology Holdings LLC and Encore Fund LP.

After falling into bankruptcy protection...
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.