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Article: Hexcel emerges from Chapter 11; rights offering to commence.
- Article from:
- Business Wire
- Article date:
- February 9, 1995
CopyrightCOPYRIGHT 1995 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PLEASANTON, Calif.--(BUSINESS WIRE)--Feb. 9. 1995--Hexcel Corp. (NYSE/PSE:HXL) Thursday announced that the plan of reorganization it proposed together with the Official Committee of Equity Security Holders ("Equity Committee") has become effective, marking the company's formal emergence from Chapter 11 bankruptcy protection.
Arrangements for exit financing have been completed. As previously announced, Citicorp USA Inc. is the agent on Hexcel's $45 million revolving credit facility.
In addition, the company announced it has restructured its letter of credit agreements with Banque Nationale de Paris. The letters of credit support Hexcel's outstanding ...