Spangler Pays $18.83MM for Necco Wafers

Time reported that Spangler, a family-owned candy company that makes Dum Dum lollipops, outbid three rivals to purchase the bankrupt New England Confectionary Company, known for Necco wafers and Sweetheart Valentine candies.

Project Build Provides $14.2MM DIP for Elements Behavioral Health

Elements Behavioral Health will execute an asset purchase with a group of its first lien lenders. To facilitate the sale, the company has filed Chapter 11 in the District of Delaware.

Gordon Bros, Others Bid to Save Necco Wafers

According to the Chicago Tribune, three new bidders have emerged to challenge stalking horse bidder Gordon Brothers’ effort to purchase Necco wafers – long derided as America’s least favorite candy.

Rex Energy Files for Chapter 11; Angelo, Gordon to Agent $100MM DIP

Rex Energy filed a voluntary petition for Chapter 11 to facilitate a sale process for its remaining assets.

iHeartMedia Files Motion to Access $450MM DIP, Citibank to Agent

iHeartMedia filed a motion seeking to access a $450 million debtor-in-possession credit facility with an incremental accordion up to $100 million. Citibank will serve as administrative agent.

BofA, Ankura Support Remington Exit from Chapter 11

Remington Outdoor Company emerged from Chapter 11 after successfully implementing its plan of reorganization. The company is exiting with a new $193 million ABL loan, a new $55 million FILO term loan and a new $100 million term loan. 

SunTrust Agents $525MM Exit Term Loan for Southeastern Grocers

The U.S. Bankruptcy Court for the District of Delaware confirmed Southeastern Grocers’ amended prepackaged Chapter 11 plan, including a $525 million exit term loan with SunTrust Bank as administrative and collateral agent.

Citizens Agents $60MM DIP for Rockport

Footwear manufacturer The Rockport Group entered into an asset purchase agreement with CB Marathon. To facilitate the sale, Rockport filed for Chapter 11 in the U.S. Bankruptcy Court for Delaware.

BofA May Exit Remington Loan to Honor Pledge

Reuters reported Bank of America hinted it may exit the Remington Outdoor post-petition loan syndicate to honor its pledge to stop financing civilian assault weapons.

April Commercial Chapter 11 Filings Tumble 32%

According to the American Bankruptcy Institute, total commercial filings dropped 32% to 391 in April from the April 2017 total of 575.