Restoration Forest gets final approval of $95 million DIP package

By Sarah Lizee

Olympia, Wash., March 7 – Restoration Forest Products Group, LLC received final approval of a $95 million debtor-in-possession financing package from funds managed by Invesco Senior Secured Management, Inc., according to an order filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

The financing consists of $29 million in new money multi-draw term loans, with the remaining amount being a rollup of prepetition bridge debt, as previously reported.

UMB Bank, NA is the administrative agent on the DIP financing, which will bear interest at 11% per annum and mature on May 31.

Fees include a $725,000 closing fee, $17,500 agency fee and 3% exit fee.

The Bellemont, Ariz.-based sustainable forest products company filed Chapter 11 bankruptcy on Jan. 29 under case number 24-10120.

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