BLY boart longyear group ltd
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News: BLY Boart Longyear Reaches Agreement With Majority Of Lenders For Proposed Substantial...

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    13/05/21
    11:40
    Post #: 53146907

    May 13 (Reuters) - Boart Longyear Ltd (BLY) :

    • REACHES AGREEMENT WITH MAJORITY OF LENDERS FOR PROPOSED SUBSTANTIAL RECAPITALISATION
    • UNDER AGREEMENT, TOTAL CO DEBT TO DECREASE TO LESS THAN US$200 MILLION, WITH ABOUT US$795 MILLION OF DEBT CONVERTED INTO EQUITY
    • LENDERS TO OWN 98.5% OF CO'S POST-RECAPITALISATION ORDINARY SHARES
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