Daily News: November 12, 2018

Aegean Marine $532MM DIP Approved by Court


Aegean Marine Petroleum Network received interim court approval of its $532 million debtor-in-possession facility provided by Mercuria Energy Group.  The loan allows Aegean Marine to continue operating while restructuring.

An ad hoc group of creditors objected to the DIP alleging it was an insider transaction.

Mercuria will file an asset purchase agreement as part of its stalking horse bid for the company’s assets.