Daily News: June 22, 2012

Court Approves RG Steel Asset Auction, DIP Loan Led By WFCF

U.S. Bankruptcy Judge Kevin Carey in the U.S. Bankruptcy Court for the District of Delaware granted approval for steel maker RG Steel’s asset auction.

The approval also laid out bidding procedures and other guidelines for the sale, a Bloomberg/BusinessWeek article said. The auction will be held on July 31.

Judge Carey also granted permission for RG Steel to borrow $50 million. Previously, he had given the company interim approval of the loan, led by Wells Fargo Capital Finance as agent.

To read the Bloomberg/BusinessWeek in its entirety, click here.

Previously on abfjournal.com:

Court Approves RG Steel’s $50 Million Bankruptcy Loan, Tuesday, June 05, 2012