Finance - Restructuring

Atlas Resource Partners Enters Restructuring Support Agreement

If the RSA is completed, Atlas Resource Partners’ debt will be reduced by about $900 million, and its interest expense will be reduced by $80 million, per year.

Erin Pedigo

Lightstream Enters Restructuring Support Agreement

The proposed recapitalization is intended to be implemented through a corporate plan of arrangement under the Canada Business Corporations Act.

Erin Pedigo

C&J Energy Services Headed To Bankruptcy To Erase $1.4 Billion Debt

The company will swap equity for debt forgiveness, and partners such as Nabors Industries will see a vastly reduced stake in the company.

Darren Barbee

Commentary: How To Keep A Bankruptcy From Becoming Worse

A tight pre-bankruptcy process is the key to ultimately having a successful reorganization.


Seventy Seven Energy Files Prepackaged Bankruptcy

"The successful completion of the solicitation process and today's filing represent the next step forward in our financial restructuring," CEO Jerry Winchester said, Reuters said.

Erin Pedigo

Nigeria's Oando Signs US$475 Million Restructuring Loan

The financing led by Access Bank includes Diamond Bank, Ecobank, FCMB, Fidelity Bank, Stanbic IBTC Bank, UBA, Union Bank and Zenith Bank. The facility is a five-year term loan, Reuters reported.

Erin Pedigo

Hercules Offshore Files Prepackaged Chapter 11 Bankruptcy

Akin Gump Strauss Hauer & Feld LLP is Hercules Offshore’s legal counsel; PJT Partners is its financial adviser; and FTI Consulting is its restructuring adviser.

Erin Pedigo

Lessons Learned

Debt and restructuring experts at IPAA’s Managing Debt In Troubled Times conference discussed insights gained from past downturns and how to apply them to the present.

Erin Pedigo

Exco Provides Updates Regarding Liquidity, Ongoing Restructuring Program

Under Phase 1 of the program, announced 13 months ago, Exco reduced net debt by 28%, to $1.1 billion as of March 2016. In September 2015, net debt was $1.5 billion.

Erin Pedigo

Halcon Resources Will Restructure Through Chapter 11 Filing

The company's restructuring plan will also eliminate about $222 million of preferred equity, and reduce the company's annual interest payments by more than $200 million.

Erin Pedigo

Connacher Files For Creditor Protection In Canada

Connacher said some of its existing lenders will provide up to CA$20 million in interim financing, and obligations will continue being met as it goes through the CCAA process, Reuters reported. 

Erin Pedigo

Seventy Seven Energy Enters Updated Restructuring Support Agreement

The second support agreement supersedes the previously amended and restated agreement dated May 3.

Erin Pedigo