Wells Fargo Capital Finance served as sole lender and administrative agent on an $80 million revolving credit facility and administrative agent on a $105 million term loan for APPVION.
The U.S. Bankruptcy Court approved Appvion’s official committee of unsecured creditors’ stipulation amending the final DIP order to extend the challenge period. Wilmington Trust had agreed to provide a $325.2 million term loan for the papermaker.
Appvion filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Court for the District of Delaware to facilitate a balance sheet restructuring and better position the business for long-term growth and success.