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Debt Financing / Related, Restructuring / Reorganization, Other Pre-Announcement

Centric Brands Expects To Emerge From Chapter 11 By October End As Private Co

Published: 09/18/2020 11:47 GMT
(CTRCQ) - Centric Brands Announces Confirmation of Plan of Reorganization.
Centric Brands Inc - Expects to Emerge From Chapter 11 by End of October As a Private Company.
Centric Brands Inc - Expects to Emerge As a Private Company, Under Supportive Ownership of Its Current Lenders Led by Blackstone, Ares, and Hps.
Centric Brands - Expects to Substantially Reduce Its Funded Second Lien Indebtedness, Thereby Positioning Business for Future Growth and Success.
Centric Brands Inc - Blackstone Will Exchange Its Second Lien Debt for Equity Interests in Reorganized Company.
Centric Brands Inc - Existing Senior Lenders Ares and Hps Will Retain Their Senior Loan Positions and Will Receive Equity Interests in Reorganized Co.
Centric Brands Inc - Expects to Secure New Exit Financing in Form of a New Securitization Facility.