December 23, 2016 / 1:33 PM / 8 months ago

BRIEF-Bonanza Creek Energy announces agreement on comprehensive deleveraging, recapitalization

Dec 23 (Reuters) - Bonanza Creek Energy Inc :

* Bonanza Creek Energy announces agreement on comprehensive deleveraging and recapitalization

* Bonanza Creek's debt to be reduced by more than $850 million

* Bonanza Creek Energy Inc - enters into restructuring support agreement with bondholders holding more than $400 million in unsecured debt

* Bonanza Creek intends to commence solicitation on plan on friday

* Bonanza Creek Energy Inc - upon effectuation, financial restructuring would eliminate more than $850 million of principal in respect of senior notes

* Bonanza Creek Energy Inc says certain bondholders commit to provide new $200 million equity infusion

* Bonanza creek energy inc - enters into restructuring support agreement with bondholders holding more than $400 million in unsecured debt

* Anticipates filing voluntary petitions for relief under chapter 11 in bankruptcy court by January 5, 2017

* Bonanza Creek Energy Inc says company expects to consummate plan and emerge from chapter 11 before end of Q1 of 2017 Source text for Eikon: Further company coverage:

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