The US Bankruptcy Court gave an order to Foresight Energy LP to obtain DIP financing on an interim basis on March 10, 2020. As per the order, the debtor has been authorized to obtain a super priority senior secured multiple-draw term loan facility in the amount of $55 million out of $175 million from DIP lenders with Cortland Capital Market Services LLC acting as the administrative agent. The DIP loan consists of a new money multi-draw term loan facility of $100 million and roll-up term loan facility of $75 million. The DIP loan would either carry an interest rate of Eurocurrency Rate plus 11% p.a., with a floor of 1% p.a., or an alternate base rate plus 10% p.a. with a floor of 2% p.a. As per the terms of the DIP agreement, the loan carries a commitment fee of 1% p.a. The DIP facility would mature either on September 06, 2020, or after 180 days from the petition date 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 $0.03 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral.