Vertis Exits Bankruptcy with $200M DIP
- Vertis to Exit Ch. 11 by Year End. Sheahan, Matthew // High Yield Report;12/13/2010, Vol. 21 Issue 50, p12
The article reports that Baltimore, Maryland-based communications company Vertis Holdings will exit Chapter 11 bankruptcy protection by the end of 2010.
- Vertis Files for Chapter 11 Bankruptcy Protection. // Investment Dealers' Digest;11/5/2010, Vol. 76 Issue 41, p6
The article reports that Vertis Holdings has filed a pre-packaged Chapter 11 bankruptcy protection and secured 600 million dollars loan to help in financing its reorganization.
- Vertis Plans Prepackaged Ch.11 Filing. Sheahan, Matthew // High Yield Report;11/8/2010, Vol. 21 Issue 45, p4
The article reports on the plan of Vertis Holdings to file a prepackaged Chapter 11 bankruptcy plan and its success to secure 600 million dollars in debt to help finance its reorganization.
- Vertis Files Pre-Pack Ch. 11, Gets $200M DIP. Sheahan, Matthew // High Yield Report;11/22/2010, Vol. 21 Issue 47, p14
The article reports that a prepackaged Chapter 11 restructuring plan has been filed by communications company Vertis Holdings and it has secured a 200 million U.S. dollar debtor-in-possession (DIP) revolver atop its previously announced 600 million U.S. dollar in new debt.
- Vertis Bankrupt, Again. Cody, Tamika // Mergers & Acquisitions Report;11/22/2010, Vol. 23 Issue 47, p22
The article reports on Vertis Holdings' decision to take a voluntary, pre-packaged Chapter 11 filing two years after exiting a bankruptcy. The filing will eliminate approximately 700 million U.S. dollars of debt, which comprise 60% of its total outstanding debt. Prior to the filing, Vertis...
- Restructuring for a new start. Brown, David S.; Borkowski, Mark // CMA Management;Sep2002, Vol. 76 Issue 6, p18
Focuses on the application in Canada of the debtor in possession (DIP) financing, financing obtained by an insolvent debtor while restructuring his business. Origin in Chapter 11 proceedings under the United States Bankruptcy Code; Factors Canadian courts consider when contemplating granting...
- Vertis Seeks $500M First-Lien Term Loan. Kellerhals, Richard // High Yield Report;9/6/2010, Vol. 21 Issue 36, p5
The article focuses on the refinancing scheme for marketing communications company Vertis Holdings, involving a 500 million U.S. dollars first-lien term loan to refinance existing debt, which includes 13.5 percent senior pay-in-kind notes due 2014 and 18.5 percent senior secured second-lien debt...
- WHAT'S NEXT: LEGAL ISSUES IN SECURED LENDING FOR 2012 AND BEYOND. Kimball, Eric W.; Emerson, Michael // Secured Lender;Mar2012, Vol. 68 Issue 2, p12
The article provides information on court decisions regarding existing debt-financings and discusses trends in documentation and negotiation of debt-financing transactions, as of March 2012. The Third Circuit ruled that a debtor, under the bankruptcy code, is allowed to restrict the right of a...
- How a Good DIP Lender Helps Firms Get Back on Their Feet . Connolly, James G. // American Banker;2/14/2003, Vol. 168 Issue 31, p8
Analyzes the importance of debtor-in-possession (DIP) financing for U.S. firms seeking court protection for bankruptcy. Issuance of DIP loans in 2002; Purposes served by DIP financing in the bankruptcy process; Benefits provided by courts to the lender for providing DIP financing; Significance...