MacKeyser court grants final approval of $1.05 million DIP financing

By Kali Hays

New York, July 16 – MacKeyser Holdings, LLC received final court approval of its $1.05 million debtor-in-possession facility and for the use of cash collateral, according to a Wednesday order with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the DIP facility is provided by Health Evolution Partners I, LP and Series F of Health Evolution Partners Co-Invest, LLC.

Interest will accrue at the Base rate plus 800 basis points.

The facility will mature on the earliest of 365 days from the bankruptcy filing date, the effective date of a plan of reorganization or liquidation, the closing of a sale of substantially all company assets and the occurrence of an event of default.

Las Vegas-based MacKeyser Holdings and operating affiliates American Optical Services, LLC and Exela Hearing Services, LLC manage integrated eye care and hearing systems providers. The company filed bankruptcy on June 20 under Chapter 11 case number 14-11550.

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