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The company’s defense products include the proven T-6
military trainer that touts a worldwide fleet of nearly
800 aircraft and more than 2.1 million flight hours,
along with the newly introduced multi-role AT-6 for the
Light Attack mission. The company’s Global Customer
Support (GCS) team and its factory-owned service center
network, Hawker Beechcraft Services, will continue
supporting all Hawker and Beechcraft products. The
network includes 10 facilities in the United States,
Mexico and the United Kingdom, along with more than 90
authorized service centers around the world.
Corporate Governance, Financing and Ownership - Robert
(Bob) Johnson is the Chairman of the company’s new
board. Its other members are: General Donald G. ‘Don’
Cook, Gene Davis, Ralph Heath, David Tolley, Gideon
Argov, Mark Ronald, Paul Fulchino and Bill Boisture.
As
previously announced, Beechcraft secured $600 million in
permanent financing, including a $425 million term loan
facility and a $175 million revolving facility. A
portion of the term loan facility was used to repay the
company’s debtor-in-possession credit facility and to
satisfy certain settlement and cure costs payable under
the Plan. The remainder, together with the revolving
facility, is funding ongoing operations. J.P. Morgan
Securities LLC and Credit Suisse Securities (USA) LLC
acted as joint lead arrangers and joint bookrunners to
structure, arrange and syndicate the financing.
As detailed in the Plan, effective on Feb. 15, 2013,
pre-petition secured bank debt, unsecured bond debt,
and certain general unsecured claims have been
canceled and holders of such claims received equity
in the reorganized company in the percentages
negotiated by the major creditor groups at the time
the company commenced its Chapter 11 proceedings.
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