Bankrupt Papermaker Appvion Gets Nod For $325M DIP Loan
By Matt Chiappardi (October 30, 2017, 9:44 PM EDT) -- A Delaware bankruptcy judge agreed to give the final OK on Monday to specialty papermaker Appvion Inc.'s roughly $325 million post-petition financing facility after several tweaks to the loan resolved objections from the official committee of unsecured creditors.
During a hearing in Wilmington, U.S. Bankruptcy Judge Kevin J. Carey said he would approve the loan from Appvion's senior lenders that provides about $85 million in new money and rolls up the rest into first-lien debt, but offered little comment.
The loan had faced fire from the committee in an objection Friday that took issue mostly with the roughly $240 million portion...
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