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Debt Financing / Related, Restructuring / Reorganization, Bankruptcy / Related

Lonestar Resources US Inc Announces Restructuring Support Agreement

Published: 09/15/2020 09:54 GMT
(LONE) - Lonestar Resources US Inc. Announces Restructuring Support Agreement.
Lonestar-under Agreement, About $250 Million of Co's 11.250% Senior Notes Due 2023 Will Be Converted to Equity, Accrued Interest Will Be Extinguished.
Lonestar- Restructuring Agreement With Largest Stakeholders to Eliminate About $390 Million in Aggregate Debt Obligations & Preferred Equity Interests.
Lonestar Resources US Inc - Support Agreement Contemplates That Unsecured Trade Creditors Will Be Paid in Full Under Plan.
Lonestar Resources US Inc - Holders of Preferred Equity Interests in Co Will Receive Their Pro Rata Share of 3% of New Equity Interests in Co.
Lonestar Resources US Inc - Holders of Existing Class A Common Stock in Co Will Receive Their Pro Rata Share of 1% of New Equity Interests in Co.
Lonestar - Will Be Able to Meet Its Financial Commitments and Otherwise Continue to Operate Its Business As Usual Throughout Restructuring Period.
Lonestar-lenders in Revolving Credit Facility Who Agree to Accept Plan to Receive Pro Rata Share of Warrants to Buy Up to 10% of New Equity Interests.
Lonestar- Anticipates Continuing to Operate Business With Cash-on-hand& Certain Proceeds From Consensual Termination of Debtors' Existing Hedging Arrangements.