Graham-Field Health Products, Inc.
This article was originally published in The Gray Sheet
Executive Summary
Replacement $35 mil. "debtor-in-possession" financing agreement with Congress Financial Corporation closes April 17. The new financing arrangement replaces the current DIP loan serviced by IBJ Whitehall Business Credit Corporation, secured following a Chapter 11 bankruptcy filing in Delaware federal court, and includes more favorable terms (1"The Gray Sheet" Jan. 10, p. 10). "It is obvious that the financial community has strong faith in the company's ability to emerge from its Chapter 11 voluntary bankruptcy position as an on-going concern," CEO David Hilton commented