The US Bankruptcy Court gave an order to Ditech Holding Corporation to obtain DIP financing on final basis on April 17, 2019. As per the order, the debtor has been authorized to obtain a revolving credit facility in the amount of $3.8 billion from lender parties with Barclays Bank PLC acting as the administrative agent for itself and other lenders. Barclays Bank PLC and Nomura Corporate Funding Americas, LLC are initial lenders. The DIP facility will include DIP Forward Repo Facility: $650 million; DIP Reverse Repo Facilities: $1 billion; DIP Servicer Advance Facilities: $250 million and DIP MSFTAs: $1.9 billion. The DIP Forward Repo Facility would carry an interest rate of LIBOR plus 2.25% p.a.; DIP Reverse Repo Facilities would carry an interest rate of LIBOR plus 3.25% p.a and DIP Servicer Advance Facilities would carry an interest rate of LIBOR plus 2.25% p.a., along with an additional 2% p.a. interest in the event of default. The DIP facility would mature either on 180 days after the filing of the chapter 11 cases or on the effective date of the plan or on the date of consummation of the sale of substantially all assets, whichever is earlier. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $10 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral.