Reorganization Expected to Reduce Company's Existing Debt by approximately $3.3 Billion
Reorganization Provides for up to $475 Million Equity Rights Offering, of which $463 Million is Backstopped, including $325 Million in Committed New Money Investment, and approximately $629 Million in Exit Financing
Company Intends to Complete Financial Restructuring Process on Expedited Basis
PR Newswire
HOUSTON, Oct. 18, 2019