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

Allied Adds To DIP Loans

Law360 (July 5, 2006, 12:00 AM EDT) -- Allied Holdings Inc. has received bankruptcy court permission to add $30 million to its debtor-in-possession financing, the company said on Friday.

The additional financing is the fifth amendment to the auto supplier’s DIP credit facility with lenders through a new Term Loan C, provided by equity firm Yucaipa Cos. and Morgan Stanley Senior Funding Inc.

The money will be used to repay protective over-advances obtained under the existing facility, to reduce the principal amount of Allied’s revolving credit advances, and for capital expenditures and other working...
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.