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Gold/Mining/Energy : ATPG Shareholders
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To: Area51 who wrote (162)8/29/2012 7:50:32 PM
From: billgatesisevil  Read Replies (1) of 3620
 
ATP has obtained a commitment for $617.6 million of debtor-in-possession (DIP) financing from members of its existing senior lender group, which will provide $250 million of additional funds and refinance into the DIP facility the amounts owed to those existing first lien lenders that participate in providing additional funds. Upon approval by the Bankruptcy Court, the new financing and cash generated from ATP’s ongoing operations will be used to support the business and ATP’s efforts to negotiate and implement a reorganization plan acceptable to its stakeholders.
-- source: Business Wire.

The judge approved this.
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