Motor Coach Industries said that on Friday, April 17, the company emerged from its voluntary Chapter 11 reorganization. The United States Bankruptcy Court for the District of Delaware confirmed the Second Amended Joint Plan of Reorganization for MCI and certain of its affiliated companies on January 28, 2009. The company stated that certain investment funds managed by Franklin Mutual Advisers, LLC, have become the company's majority shareholders through the conversion of third lien secured debt into common stock and the issuance of $200 million in new preferred stock. Franklin Mutual Advisers, LLC, is a subsidiary of Franklin Resources, Inc. (BEN).
In conjunction with its emergence from Chapter 11, MCI has obtained $230 million of exit financing and consummated its pre-negotiated plan. GE Capital is the arranger and lead lender under a $75 million senior secured revolving credit facility. The company has also arranged for a $155 million second lien term loan from a group of lenders.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.