LITTTLETON, Colo.–(BUSINESS WIRE)–Jul 24, 2020–
APC Automotive Technologies, LLC, together with certain of its subsidiaries, (APC or the Company), today announced that it has successfully implemented the debt restructuring set out in the Restructuring Support Agreement with its asset-based lenders, term loan lenders, and significant equity holders, following confirmation of the Companys chapter 11 plan of reorganization by the U.S. Bankruptcy Court for the District of Delaware on July 10, 2020, which became effective today.
As part of the restructuring, the Company has reduced the debt on its balance sheet by more than $290 million and secured a new $50 million senior secured term loan to finance its go-forward o…
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