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Amerisource Business Capital Provides DIP Funding for New York Manufacturer

April 30, 2018, 07:00 AM
Filed Under: Manufacturing

Amerisource Business Capital announced the closing and funding of a $2,000,000 debtor-in-possession senior revolving credit facility for a paperboard manufacturing company in New York.  The proceeds of the facility are being used for working capital bridge financing while the Company completes a Section 363 sale with a strategic buyer.

Andy Allaire, Market Manager for Amerisource, stated: “The Company and its existing bank contacted Amerisource, looking for a flexible DIP lender able to bridge the Company’s financing needs through the Section 363 sale process.  We were pleased to provide a solution that worked for the pre-petition bank as well as the Company’s investor group, and we look forward to the Company’s successful emergency from the Chapter 11 process.”

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