Tag: Silver Point Finance
Rotech files bankruptcy, secures financing
April 8, 2013HME News Staff
ORLANDO, Fla. - Rotech Healthcare announced today that it has filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code.
As part of its reorganization plan, Rotech will eliminate about half of its secured debt, the company stated in a press release.
“Today's actions will enable us to create a capital structure that will provide a foundation for sustained profitability and future growth,” stated Steven Alsene, president and CEO of Rotech,...
Rotech agrees to $25 million loan credit
December 26, 2012HME News Staff
ORLANDO - Rotech Healthcare has agreed to a $25 million new term loan credit facility with Silver Point Finance, according to a press release. “We expect that proceeds from the new credit facility will provide the company with additional flexibility to respond to competitive changes and opportunities in the industry, and will support the company's working capital needs as we implement our business plans,” stated Philip Carter, president and CEO of Rotech in the release. The company borrowed...