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Halcon Resources Final Financing Approved

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The U.S. Bankruptcy Court approved, on a final basis, Halcon Resources’ motion for entry of interim and final orders authorizing the Debtors to obtain senior secured, super-priority, post-petition financing; use cash collateral; maintain and renew existing letters of credit to the extent permitted by the revolving credit facility.

As previously reported, “The motion is seeking authorization for the D.I.P. Borrower and the other Debtors to obtain a post-petition revolving credit facility in the aggregate principal amount of up to $600,000,000, the ‘D.I.P. Facility’….An interim hearing on the Motion to be held before this Court to consider entry of this Order authorizing the DIP Borrower, on an interim basis, to access up to $500,000,000 of the aggregate principal amount of the DIP Facility…and to refund, refinance, replace and repay in full the Revolving Credit Agreement Loans and the Revolving Credit Agreement Letters of Credit in an aggregate principal or face amount of $450,000,000.”

More on the Halcon Resources bankruptcy.

 

The post Halcon Resources Final Financing Approved appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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