Goldman has sweetened their NOL Deal with $REALQ Real Industry
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RELYQ up on this: Upped DIP from 4 to 5.5. Upped equity commitment from 10 to 17.5. And said they'd give a 500mn line of credit for future acquisitions.
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210/GSAM has, subject to Court approval, agreed to provide Real Industry with a postpetition credit facility (the “210/GSAM Proposed DIP Financing”) on terms that are either identical, or materially superior, to the terms of the GSC Proposed DIP Financing. The improved terms offered by the 210/GSAM Proposed DIP Financing include, but are not limited to, (i) an improved equity commitment (from $10 million to $17.5 million), (ii) increased availability under the proposed postpetition financing facility (from $4 million to $5.5 million), (iii) a reduced interest rate (from 12 percent to 11 percent), (iv) the addition of a commitment to provide a $500 million acquisition financing facility on terms to be negotiated, (v) a reduced upfront fee (from $300,000 to $200,000), (vi) a reduced break-up fee (from $450,000 to $300,000), and (vii) relaxed case milestones.3
