Vertis Opts for Prepackaged Chapter 11

The company has already received commitments for $600 million in financing to be implemented under the plan of reorganization, including a $425 million term loan from Morgan Stanley Senior Funding and a $175 million revolving credit facility from GE Capital. Vertis has also received commitments for up to $100 million of new common equity, pursuant to its previously announced private placement and the associated backstops.