Nine Point’s $18 Million Bankruptcy Loans, Sale Process Approved

Nine Point Energy Holdings Inc. won court approval of an $18 million post-bankruptcy loan and a sales process that would deliver the oil and gas driller’s business to its lenders.

A group of lenders represented by agent AB Private Credit Investors LLC will provide the debtor-in-possession financing. DIP lenders include Prudential Insurance Co. of America, Goldman Sachs Bank USA, Orix Corporate Capital Inc., and Cargill Inc.

Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware on Monday also approved sales procedures for the Denver-based energy company.

Meadowlark Resources LLC, a company created by Nine Point’s ...