Daily News: April 9, 2013

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:

Silver Point Finance Provides New Term Loan to Rotech, Thursday, December 27, 2012