Daily News: April 14, 2014

JPMorgan Arranges DIP in Momentive Performance Bankruptcy

Bloomberg reported Momentive Performance Materials filed for bankruptcy after struggling to make payments on debt dating to its 2006 buyout by Leon Black’s Apollo Global Management.

According to Bloomberg , the company has a $570 million commitment in DIP financing, led by J.P. Morgan Securities as lead arranger, to help it meet its operational and restructuring needs.

To read the entire Bloomberg article, click here.

Previously on abfjournal: Bloomberg: Momentive Performance Lenders Hire Dechert for Restructuring, April 3, 2014