Amerisource Business Capital funded a $2 million debtor-in-possession senior revolving credit facility for a paperboard manufacturing company in New York.
The proceeds from the facility will be used for working capital bridge financing while the company completes a Section 363 sale with a strategic buyer.
Andy Allaire, market manager for Amerisource, said “The company and its existing bank contacted Amerisource, looking for a flexible DIP lender able to bridge the company’s financing needs through the Section 363 sale process. We were pleased to provide a solution that worked for the pre-petition bank as well as the company’s investor group, and we look forward to the company’s successful emergence from the Chapter 11 process.”
