Hawker Beechcraft Gets $120 Million Loan as Covenants Waived
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Hawker Beechcraft Inc., the aircraft manufacturer owned by Goldman Sachs Group Inc. and Onex Corp., struck a deal with lenders that will provide a $120 million loan as it negotiates with creditors to avoid default.
The company will receive the loan under its existing credit facility, Nicole Alexander, a spokeswoman for the firm, said in an e-mailed statement. Lenders holding about 70 percent of its bank debt also agreed to waive certain covenants and are letting the company defer interest payments until June 29, according to the statement.