Bloomberg: Rotech Healthcare Files for Bankruptcy
Bloomberg reported that Rotech Healthcare filed for bankruptcy saying its plan to cut debt by about half and reorganize is supported by most first- and second-lien noteholders.
The article said that under the proposed reorganization plan lenders owed $23.5 million and first-lien noteholders owed $230 million will receive an amended term loan. Second-lien noteholders will get all of the shares in the new Rotech, eliminating more than $300 million in debt. Silver Point Finance agreed to loan the company as much as $30 million to help finance the bankruptcy, citing a company statement.
To read the entire Bloomberg story, click here.
Previously on abfjournal.com: