21.05.2013

Ahern secures exit finance

Ahern Rentals has asked the Nevada bankruptcy court to approve a $415 million financing package from Jeffries Finance that it plans to use to fund its Chapter 11 exit. Assuming of course that the judge comes down in favour of the current owners plan over the competing plan put forward by a group of its note holders.

Ahern has not disclosed the finer details or costs of the Jeffries financing. The decision on which of the two plans will go forward is expected in early June.