LSC Communications has until the end of the month to make a formal decision on whether to plan to exit chapter 11 through a sale or a restructuring, a deadline that’s part of the terms of a $100 million DIP financing package approved by US Bankruptcy Judge Sean Lane at a June 1 hearing. That allows LSC to draw down the remaining $27.5 million of the financing. The final terms of the financing agreement included an automatic 90-day maturity extension if the company chooses to restructure, and eliminated a requirement that potential buyers be willing to assume the prepetition revolving […]
