Eurocardsharing

Go Back   Eurocardsharing > General Discussions > General Satellite News > Latest Satellite News

Latest Satellite News Discussion, Energia Overseas Limited Assumes DIP Financing For Sea Launch at General Satellite News forum; Long Beach CA (SPX) May 05, 2010 Sea Launch has accepted the terms of agreement for debtor-in-possession (DIP) financing from ...

Reply
 
LinkBack Thread Tools Display Modes
Energia Overseas Limited Assumes DIP Financing For Sea Launch
Old
  (#1)
korai
Permanent Banned
 
korai's Avatar
 
Offline
Posts: 250

Level: 14 [♥ Bé-Yêu ♥♥ Bé-Yêu ♥♥ Bé-Yêu ♥♥ Bé-Yêu ♥♥ Bé-Yêu ♥]
Life: 0 / 344
Magic: 83 / 8251
Experience: 78%

Thanks: 2
Thanked 6 Times in 6 Posts
Join Date: Oct 2009
Age: 35
Energia Overseas Limited Assumes DIP Financing For Sea Launch - 06-May-2010, 15:50

Long Beach CA (SPX) May 05, 2010
Sea Launch has accepted the terms of agreement for debtor-in-possession (DIP) financing from Energia Overseas Limited ("EOL"). As a result of the court-approved agreement, EOL will replace Sea Launch's existing DIP lender, Space Launch Services (SLS). The new DIP financing agreement with EOL, which received interim approval from the U.S. Bankruptcy Court in Delaware on April 27, provides additional funding to Sea Launch, totaling $30 million.
Part of the proceeds of this facility will be used to repay all outstanding SLS DIP loans to date, amounting to approximately $19 million.
The remaining balance of this facility will be used to fund ongoing operations at Sea Launch through confirmation of its Plan of Reorganization.
The new arrangement is also expected to position Sea Launch for exit financing, as the company prepares for its successful emergence from the Chapter 11 bankruptcy proceedings.
The DIP financing transaction closed on April 30.
Sea Launch was assisted in the transaction by Jefferies and Company, Alston and Bird LLP and Chris Picone of Buccino and Associates, Inc. EOL was advised by Salans LLP and Avicon (UK).
   
Reply With Quote
Reply

Bookmarks

Tags
assumes, energia, financing, launch, limited, overseas


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Forum Jump



ECS on RSS ECS on Twitter ECS on Facebook ECS on Youtube
Follow us on:

Powered by vBulletin
Copyright 2002 - 2010, Jelsoft Enterprises Ltd.
SEO by vBSEO ©2011, Crawlability, Inc.
Dreambox