Nordic Aviation Gets OK To Tap $170M DIP From Lenders

By Rick Archer (January 13, 2022, 4:35 PM EST) -- Aircraft leasing company Nordic Aviation Capital on Thursday got approval from a Virginia bankruptcy judge to tap into $170 million in debtor-in-possession financing after saying it has close to 90% of its secured noteholders on board with its restructuring plan.

At a brief virtual hearing, U.S. Bankruptcy Judge Kevin Huennekens approved Nordic's uncontested motion to allow it to draw on the DIP being offered by its secured lenders, which counsel for the company said was the only deal for bankruptcy financing it had been able to find.

Ireland-based Nordic, which filed for Chapter 11 in December with more than $6.3 billion...

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