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BRIEF-Permian Resources announces restructuring transaction
May 1, 2017 / 9:36 PM / 7 months ago

BRIEF-Permian Resources announces restructuring transaction

May 1 (Reuters) - Permian Resources Llc:

* Permian Resources announces consensual and transformational restructuring transaction

* Permian Resources Llc - announced that it has entered into a series of definitive agreements with funds

* Permian Resources Llc - agreement provides for purchase of $744 million at closing of newly-issued common equity interests of Pres New Equity Llc

* Permian Resources Llc - in connection with deal, funds have agreed to exchange approximately $325 million of principal amount of co’s indebtedness

* Permian Resources Llc - following transactions, company will be re-named Sable Permian Resources Llc

* Permian Resources Llc - equity financing provides company with $744 million of cash proceeds at closing to execute a multi-year development plan Source text for Eikon: Further company coverage:

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