Daily News: November 28, 2012

Hawker Beechcraft, Lenders Agree to Extend Loan


Hawker Beechcraft and the majority of its lenders have reached an agreement to amend the terms of the company’s $400 million debtor-in-possession (DIP) financing until the end of February, a Dow Jones Newswires article said.

The company must emerge from bankruptcy protection before the extension deadline. Hawker is now seeking court approval of the extension, the article said.

In the compromise to push the date of the financing, the company will pay extra fees to its lenders, including Centerbridge Partners, Angelo, Gordon & Co., Capital Research & Management and Sankaty Advisors. These lenders will also own a majority in the company when it exits bankruptcy, the article said.

The article can be found in its entirety by clicking here.

Previously on abfjournal.com:

Creditors to Take Over Hawker Beechcraft After Sale Collapses, Tuesday, October 30, 2012