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Leiner Health Products’ reorganization

This article was originally published in The Tan Sheet

Executive Summary

OTC drug, dietary supplement private labeler's reorganization plan approved by Wilmington, Del. bankruptcy Judge Peter Walsh April 15. Prepackaged Chapter 11 filing, which previously received senior bank lender and bondholder approval, calls for restructuring current bank debt into two term loans totaling approximately $243 mil., plus a $20 mil. revolving credit facility. Senior subordinated note holders will receive $15 mil. cash and newly issued preferred stock in exchange for the notes (1"The Tan Sheet" March 11, 2000, p. 6)...

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