Aspect Software Parent filed with the U.S. Bankruptcy Court a Seventh Amended Supplement for its Joint Chapter 11 Plan of Reorganization. The Supplement contains the following documents: Exhibit D: exit first lien term loan and new revolving credit facility and blacklined Exhibit D: exit first lien term loan and new revolving credit facility (marked to show changes from the Exhibit D previously filed with the Court under the Sixth Amended Plan Supplement).
The Court subsequently issued an order confirming the Second Amended Joint Chapter 11 Plan of Reorganization. As previously reported, “On the Effective Date, First Lien Term Loan Claims shall be deemed Allowed in the aggregate principal amount of $447.2 million, plus all interest (including any payment-in-kind interest), fees, and other expenses payable under the First Lien Credit Agreement related to the First Lien Term Loan.”
Stew Bloom, Aspect Software Parent’s chairman and C.E.O. states, “The court’s approval marks a major milestone in the multi-year transformation of Aspect’s business, through which we have evolved from a legacy technology company that sold a limited set of on-premises contact center software, to a contemporary and comprehensive provider of contact center and workforce optimization solutions in the cloud. The expeditious completion of this transaction facilitates a new runway for accelerated growth as we begin executing on the next phase of the company’s long-term strategic vision.”
This customer contact center product and application provider filed for Chapter 11 protection on March 9, 2016, listing $952 million in pre-petition assets. Read more bankruptcy news.
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