None
DA
Global Retail Label Maker Multi-Color Corp. Files Chapter 11 in New Jersey With $5.9B Debt, Aiming to Restructure $3.9B While Maintaining Operations Amid Supply Chain Challenges and Industry Downturn
['Ahmed Boughalleb', 'Ahmed Is A Sales Development', 'International Trade Expert With Decades Of Experience In Business', 'Acquisitions', 'Mergers. He Writes About Financial', 'Business News With A Focus On The U.S. Market.']
USA Herald
The company simultaneously obtained $250 million in debtor-in-possession financing to support ongoing operations throughout the restructuring process.
The company’s debt profile includes just under $4.8 billion in secured credit facilities, term loans, notes, and leases, with over $1.1 billion in unsecured notes.
The Chapter 11 filing also details the company’s retention of Evercore as investment banker and AlixPartners as financial adviser.
Court documents state that the financing arrangement includes $250 million in new debtor-in-possession funds and a $400 million rollup of pre-petition debt.
Multi-Color expects this plan to sustain operations while completing the restructuring in the U.S. Bankruptcy Court for the District of New Jersey.