Arecont Vision secures interim access to $2.75 million of financing

By Caroline Salls

Pittsburgh, May 16 – Arecont Vision Holdings, LLC obtained court approval to access $2.75 million of a proposed $4 million in debtor-in-possession financing on an interim basis, according to an order filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

The final hearing is scheduled for June 8.

The lenders are American General Life Insurance Co., American Home Assurance Co., the United States Life Insurance Co. in the City of New York, the Variable Annuity Life Insurance Co., American Home Assurance Co. and United Guaranty Residential Insurance Co.

The DIP loan is scheduled to mature 180 days from the bankruptcy filing date.

Interest will accrue at a rate of 8%.

Arecont Vision is a Glendale, Calif.-based video surveillance company. The company filed bankruptcy on May 14 under Chapter 11 case number 18-11142.

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