Techniplas Files for Bankruptcy, Reaches Deal With Noteholders

Techniplas reached a deal with ~95% of its senior noteholders that will allow it to reduce overall debt and interest expenses while it filed for Chapter 11 protection in Delaware to facilitate the process, the company says in a statement.

• Says it also entered agreement with certain noteholders and Bank of America to provide additional debtor-in-possession financing to fund the process
• The maker of plastic components for the auto industry listed assets and liabilities of $100 million to $500 million each in the Chapter 11 filing in Wilmington, Delaware
• The company is based in Snapshot, Wisconsin
• Company’s advisers:
  • Restructuring ...