Arandell Holdings extends maturity of debtor-in-possession facility

By Sarah Lizee

Olympia, Wash., Oct. 23 – Arandell Holdings, Inc.’s $7.5 million ABL debtor-in-possession facility has been extended, according to a notice filed Thursday with the U.S. Bankruptcy Court for the District of Delaware on Friday.

The facility will mature on the earliest of Dec. 4, the consummation of a sale of all or substantially all of the assets of Arandell Corp., the effective date of a proposed plan and the date on which a factoring agreement expires.

The DIP financing was previously set to mature on Nov. 16.

CIBC Bank USA is the post-bankruptcy lender agent.

Interest on revolving loans accrue at the Base rate plus 375 basis points and interest on term loans at the Base rate plus 425 bps.

Menomonee Falls, Wis.-based Arandell operates a web offset printer. The company filed bankruptcy on Aug. 13 under Chapter 11 case number 20-11941.

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