LITTTLETON, Colo.–(BUSINESS WIRE)–Jun 3, 2020–
APC Automotive Technologies, LLC, together with certain of its subsidiaries, (APC or the Company), today announced that it has entered into a comprehensive Restructuring Support Agreement (the RSA) with key stakeholders, including its asset-based lenders, 74% of its term loan lenders that are eligible to vote, and significant financial sponsors (the RSA Parties).
The restructuring transaction contemplated under the RSA will reduce APCs outstanding indebtedness by approximately $290 million on a net basis, significantly strengthening the Companys balance sheet and enhancing financial flexibility going forward. The RSA represents the commitment of the RSA Parties to support a compreh…
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