Horsehead's $90M Ch. 11 Financing Gets Final Approval

Law360, Wilmington (March 2, 2016, 7:27 PM EST) -- Metal processor Horsehead received final approval for its $90 million debtor-in-possession financing from a group of senior secured lenders on Wednesday after settling objections from creditors and prepetition lenders.

In Delaware bankruptcy court, U.S. Bankruptcy Judge Christopher S. Sontchi approved the final DIP package provided by a group that holds 80 percent of Horsehead Holding Corp.’s senior secured notes set to mature in 2017 after the company reached agreements with the objecting parties. 

To settle the objections of the official committee of unsecured creditors, Horsehead attorney Ryan Preston Dahl said the company has agreed to extend the milestones included in the...

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