The US Bankruptcy Court gave an order to Speedcast International Limited, to obtain DIP financing on final basis on May 20, 2020. As per the order, the debtor has been authorized to obtain a New money term loans in the aggregate principal amount of $90 million, and Roll-Up DIP Loans facility of $90 million, from Credit Suisse AG (Cayman Islands) and also acting as the administrative agent. The New money term loans would either carry an interest rate of LIBOR plus 8.0% for Eurocurrency Loan; 7.0% for ABR Loan and The Roll-Up DIP Loans facility would carry an interest rate of LIBOR plus 1.75% per annum, along with an additional 2% p.a. interest in the event of default. As per the terms of the DIP agreement, the loan carries a Exit fee of 5% and commitment fee of 2% p.a. The DIP facility would mature either on January 23, 2021, or 9 months 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 $0.05 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral.