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Debt Financing / Related, Bankruptcy / Related

Superior Energy Services Says Superior Will Continue To Conduct Business As Usual With Customers, Vendors And Employees

Published: 09/30/2020 11:40 GMT
(SPNX) - Superior Energy Reaches Agreement With Holders of 69.2% of Senior Notes on Terms of Comprehensive Financial Recapitalization to Convert All of the Company’s $1.3 Billion of Funded Indebtedness Into Equity.
Superior Energy Services Inc - Financial Recapitalization Expected to Be Implemented Through "pre-packaged" Chapter 11 Process.
Superior Energy Services Inc - Superior Will Continue to Conduct Business As Usual With Customers, Vendors and Employees.
Superior Energy Services - Intends to Continue Engaging in Discussions With Creditors That Are Party to Restructuring Support Agreement.
Superior Energy Services - Co & Ad Hoc Noteholder Group Are Contemplating Separating Superior's Business Into Two Separate Companies.
Superior Energy Services Inc - Co's Globally Diversified Service Lines Would Remain With Superior.
Superior Energy Services - Co's U.S. Onshore Businesses Would Become New Consolidation Platform for U.S. Onshore Assets.
Superior Energy Services - a Separation of Nam and Remainco Would Result in Following Economic Terms Upon Emergence From Chapter 11.
Superior Energy - Some Members of Ad Hoc Noteholder Group Executed Letter to Provide Up to $200 Million in Ddtl to Consolidated Superior Or Remainco.