The US Bankruptcy Court ordered approving the DIP financing for Real Industry, Inc. on final basis on January 17, 2018. As per the order, the debtor has been authorized to obtain DIP facility of $20 million revolving facility out of total $110 million plus new DIP notes of $255 million. The DIP ABL facility is provided by Bank of America, N.A. and such other Lenders acceptable to BOA. Bank of America, N.A. acting as the administrative agent. The DIP Notes facility of $255 million comprised of New Money DIP Notes of $85 million and Roll-Up DIP Notes in the amount of $170 million. The DIP ABL facility will bear an interest rate of Base Rate plus the Applicable Margin, or one-Year LIBOR plus the Applicable Margin, along with an additional 2% p.a. interest in the event of default. The Applicable Margin is 2.25% in the case of Base Rate Loans and 3.25% in the case of LIBOR Rate Loans. The New Money DIP Notes will bear interest rate of 11.5% per annum and Roll-Up DIP Notes will bear same as Prepetition Notes. As per the terms of the DIP agreement, the loan carries a commitment fee of 1.5% p.a. and DIP Noteholders shall be entitled to a backstop fee of 3.5% of the Total Aggregate Commitment. The debtor will pay closing fees of $1.1 million for DIP ABL Facility. The DIP facility would mature either on May 17, 2018 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 $2.05 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral.