Arch Coal filed for reorganization under Chapter 11 to facilitate a financial restructuring of its balance sheet. Wilmington Trust will agent a $275 million DIP financing, subject to court approval.
American Apparel secured a $90 million asset-based revolver with Wilmington Trust as agent for a lender group replacing Capital One Business Credit. The company noted “substantial doubt that it would be able to continue as a going concern.”
Sabine Oil & Gas announced the signing of an amendment to its previously announced forbearance agreement with the lenders under its second lien term loan facility with a lender group led by Wilmington Trust as administrative agent.
Sabine Oil & Gas announced it entered into a forbearance agreement with the lenders under its second lien term loan facility. Wilmington Trust acted as administrative agent, according to an SEC filing.
The SEC filed fraud charges against four officers of Wilmington Trust for intentionally understating past due bank loans during the financial crisis.