Alamo Drafthouse gets final court approval to access DIP facility

By Sarah Lizee

Olympia, Wash., April 1 – Alamo Drafthouse Cinemas Holdings, LLC received court approval to access a $20 million multi-draw term loan debtor-in-possession facility, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

The DIP facility also provides for a roll up of up to $40 million of debt under the company’s pre-petition credit facility on a pro rata basis.

Altamont Capital Partners and Fortress Investment Group are providing the financing, with Fortress Credit Corp. as administrative agent, as previously reported.

The DIP facility will mature in 120 days at the latest.

Interest will be 15% per annum for term loans, to be paid in kind, and 4.5% per annum for the roll-up loans.

The debtors will also pay a $50,000 closing fee and a 2% upfront fee.

The Austin, Tex.-based dine-in movie theater chain filed bankruptcy on March 3 under Chapter 11 case number 21-10474.

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