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Unipharma obtains access to $15.6 million DIP financing package
By Sarah Lizee
Olympia, Wash., Dec. 31 – Unipharma, LLC received final approval to access $15.6 million in post-petition financing, according to an order filed Thursday with the U.S. Bankruptcy Court for the Southern District of Florida.
The total amount of the facility is subject to up to $2 million of commitment increases at the DIP lender’s option.
Unipharma will be the borrower, with affiliate Tamarac 10200, LLC as the guarantor.
Borrowings will bear interest at 10% per year, subject to a default rate of 12% per year.
The facility will mature 120 days after the petition date at the latest.
The debtors also received approval to access to the cash collateral of pre-bankruptcy lender NHTV ULM Holdings LLC.
Unipharma is a Tamarac, Fla., health care packaging company serving the pharmaceutical and nutraceutical sectors in the development, manufacturing and packaging of liquid, disposable and single-dose units. The company filed bankruptcy on Dec. 7 under Chapter 11 case number 20-23348.
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