Judge to Approve Wheel-Maker Accuride’s Lender Takeover Plan

A bankruptcy judge said Tuesday she would approve the reorganization plan of Accuride Corp., a wheel-maker backed by private equity firm Crestview Partners.

• Under the plan, DIP lenders will receive 95% of new equity, and pre-petition term loan lenders will get 5% of the new equity, each on a pro-rata basis, according to court documents
  • The DIP lenders consist of a majority of pre-petition term loan lenders and have provided about $130 million of DIP financing
• Some of the pre-petition term loan lenders include KKR & Co., Guggenheim and Caspian Capital, a separate court document shows ...