Hostess Receives Interim Approval to Use DIP Loan
The Wall Street Journal reported that Hostess Brands has received approval from Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York to use $35 million of the $75 million debtor-in-possession loan it obtained from its first lien lenders led by Silver Point Capital.
Judge Drain also approved the company’s other first-day motions including the right to pay its employees and vendors, the article said.
To read the article in its entirety, click here.
Previously on abfjournal.com: