Molycorp obtains $135 million DIP financing
Clients Molycorp, Inc.
Jones Day represented Molycorp, Inc. in connection with obtaining debtor-in-possession financing of over $135 million to support its reorganization under chapter 11 bankruptcy. The debtor-in-possession financing facility, approved by the United States Bankruptcy Court for the District of Delaware, will provide Molycorp, Inc. with liquidity, reductions in reorganization costs, and additional time to develop a reorganization plan in order to effectively reorganize its business and company structure.
Molycorp, Inc. is headquartered in Colorado, and is the world's only advanced material manufacturer that both controls a world-class earth resource and can produce high-purity, custom engineered rare earth products to customer specifications, including rare earth magnetic materials, rare earth-based water treatment products and other rare earth products used in electronic, transportation, industrial and clean energy applications.