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BRIEF-C&J Energy Services enters into restructuring support agreement with key creditors
July 9, 2016 / 1:28 AM / a year ago

BRIEF-C&J Energy Services enters into restructuring support agreement with key creditors

July 8 (Reuters) - C&J Energy Services Ltd :

* C&J Energy Services enters into restructuring support agreement with key creditors

* Restructuring will enable co to substantially deleverage its balance sheet; eliminating about $1.4 billion of existing debt

* RSA provides for debtor-in-possession financing in form of a $100 million senior secured delayed-draw term loan facility

* Says company will also raise $200 million of additional capital through a backstopped rights offering

* After emergence from restructuring, co intends to raise at least $100 million in exit financing through an abl credit facility

Source text for Eikon:

Further company coverage: (Bengaluru Newsroom)

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