A.M. Castle & Co., a global distributor of specialty metal and supply chain solutions, announced that it has emerged from its voluntary chapter 11 proceedings before the U.S. Bankruptcy Court for the District of Delaware commenced on June 18, 2017, the ABL Advisor reported on Friday. A.M. Castle in June executed commitment letters with PNC Bank for a $125 million senior-secured, revolving credit facility that would close when the company completed its pre-packaged financial restructuring. That proposal was reiterated in early August in an amended plan detailed in a regulatory filing that includes, among other things, "a new exit financing facility — the New ABL Facility — in an amount up to $125 million to be provided to the reorganized Company by PNC Bank, National Association."
