Hawker Beechcraft, Lenders Agree to Extend Loan

Hawker Beechcraft and the majority of its lenders have reached an agreement to amend the terms of the company’s $400 million debtor-in-possession (DIP) financing until the end of February, a Dow Jones Newswires article said.

The company must emerge from bankruptcy protection before the extension deadline. Hawker is now seeking court approval of the extension, the article said.

In the compromise to push the date of the financing, the company will pay extra fees to its lenders, including Centerbridge Partners, Angelo, Gordon & Co., Capital Research & Management and Sankaty Advisors. These lenders will also own a majority in the company when it exits bankrkuptcy, the article said.

To read the full article click here.

Previously on monitordaily: Creditors to Take Over Hawker Beechcraft After Sale Collapses, published October 31, 2012

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