Molycorp, Inc. Secures Court Approval for Financing and Additional Time

Molycorp, Inc.  has moved forward with its Chapter 11 process and received Court approval for an improved debtor-in-possession (DIP) financing package provided by Oaktree Capital Management LP.

The approved DIP facility of new net financing of $130 million represents significant improvement over the interim DIP approved by the Court on July 2, 2015, including additional liquidity, reduced costs, and additional time to develop a plan of reorganization that would be in the best interest of all parties.

Molycorp is being advised by the investment banking firm of Miller Buckfire & Co. and is receiving financial advice from AlixPartners, LLP.  Jones Day and Young, Conaway, Stargatt & Taylor LLP act as legal counsel to the Company in this process.

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