Ahern Rentals Inc. is seeking court approval for $495 million in financing to support a bankruptcy-exit plan that the construction equipment company is hoping will trump a competing plan put forth by its bondholders, Dow Jones Daily Bankruptcy Review reported today. Ahern said in a court filing it has lined up a $350 million senior secured credit facility and $145 million term loan exit facility to help pay off debt that would come due in the event its chapter 11 restructuring plan is chosen by creditors.
