Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Aerotech Miami Inc. > News item |
iAero Tech seeks approval to lift DIP facility by $3.1 million
By Sarah Lizee
Olympia, Wash., March 4 – Aerotech Miami Inc., which does business as iAero Tech, is seeking approval to lift its debtor-in-possession facility by $3.1 million to $27.6 million, according to a motion filed Friday with the U.S. Bankruptcy Court for the Southern District of Florida.
The financing is provided by prepetition secured lenders including Synovus and certain Blackstone entities, as previously reported. Synovus is the administrative and collateral agent for the DIP facility.
Interest on the DIP financing is term SOFR+10 basis points CSA plus 400 bps per annum, paid monthly in arrears in cash.
The facility has an eight-month tenor.
Miami-based iAero Tech operates a business-to-business air charter airline with a fleet of 42 passenger and cargo aircraft, servicing customers both domestically and internationally. The company filed Chapter 11 bankruptcy on Sept. 19, 2023 under case number 23-17503.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.