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School Specialty Inc. Message Board

  • fasttruk fasttruk Feb 4, 2013 3:04 PM Flag

    From Law360

    Law360, Wilmington (January 29, 2013, 11:05 PM ET) -- School Specialty Inc. noteholders Tuesday blasted the $50 million debtor-in-possession facility proposed by Bayside Capital Inc., alleging the package's roll-up provision, excessive interest and unreasonable milestones are designed for the sole benefit of the private equity firm.

    The terms attached to DIP financing would force the Wisconsin-based provider of school supplies into an unnecessarily expedited sales process that would end with Bayside rolling up $95 million in prepetition debt ahead of other creditors and acquiring the company at a fire-sale price, according to an objection filed

    Is anyone here subscribed? If not I will later just to see any new news come from there


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