The U.S. Bankruptcy Court issued a final order approving Xtera Communications’ D.I.P. financing motion.
As previously reported, “The D.I.P. facility consists of super-priority post-petition financing is made up of a term loan in the principal amount of up to $7,409,793. H.I.G. European Capital Partners is the D.I.P. lender, and Wilmington Trust is the administrative and collateral agent….The agreement with H.I.G. contemplates approximately $7.4 million in senior debtor in possession financing secured by substantially all assets of the Debtors to fund the Debtors through a sale process. Additionally, an affiliate of H.I.G. is acting as stalking horse bidder to purchase all of the Debtor’s assets for a purchase price of $10 million inclusive of amounts due under the DIP Financing.”
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