GSE Environmental Emerges from Chapter 11
GSE Environmental announced it formally emerged from the Chapter 11 process as a stronger global company well-positioned to accelerate growth and continue to meet the evolving needs of its customers.
GSE Environmental announced it formally emerged from the Chapter 11 process as a stronger global company well-positioned to accelerate growth and continue to meet the evolving needs of its customers.
By order of the U.S. Bankruptcy Court, Tiger Group’s Remarketing Services Division, PPL Group and RealestateAuctions.com are auctioning machine tools, rolling stock and equipment from RoxWell Performance Drilling.
King Trade Capital announced the recent funding of a PO finance commitment for a European-based importer of toys and games.
First Capital announced the hiring of Bruce J. Mettel as vice president and senior underwriter. Mettel joins from PNC where he was vice president, senior relationship manager.
An overwhelming majority (78%) of respondents in a recent ABI Quick Poll think that credit bidding should be allowed in a bankruptcy sale. Eighteen percent thought that credit-bidding should not be allowed.
Alta Mesa announced its lenders have completed a redetermination of its borrowing base, which has been increased to $350 million. The facility was provided by a syndicate of 10 banks agented by Wells Fargo Bank.
Bloomberg reported that banks are seeking additional details from U.S. regulators on their leverage-lending guidelines, which are intended to improve underwriting standards.
Exterran completed its acquisition of MidCon Compression for approximately $135 million. The acquisition was funded using Exterran’s revolver, provided by a bank syndicate with Wells Fargo as administrative agent.
GE Capital announced it is providing Rentech Nitrogen Partners with a $50 million cash flow financing for a series of capacity expansion projects to support the partnership’s future growth.
Eagle Bulk Shipping said it entered into a restructuring support agreement with lenders holding more than 85% of its loans outstanding. To implement the RSA has filed a “prepackaged” Chapter 11 case.