Service & Supply | Oilfield Services | Bankruptcy / Restructure Update | Financial Trouble | Capital Markets
Bankrupt FTS International Inks Improved RSA Deal with Creditors
Email
Print 
Bookmark
Nearly a month after its August 24 bankruptcy filing, FTS International, Inc. has entered into a second amended and restated RSA deal with its creditors.
The new RSA is an improvement on its first agreement, with this iteration garnering 87.55% creditor support (a 17% increase compared with 75% creditor support in its first RSA agreement).
As of close of business on September 18, 2020, the Company’s cash balance was $161 million. FTS will clear approximately $437.3 million worth of debt from its balance sheet upon its exit.
Kirkland & Ellis LLP and Winston & Strawn LLP are acting as legal counsel, Lazard Frères & Co., LLC is acting as financial advisor, and Alvarez & Marsal LLP is acting as restructuring advisor to the Company in connection with the restructuring.
Related Categories :
Bankruptcy / Restructure Update
More Bankruptcy / Restructure Update News
-
ION Geophysical Files for Bankruptcy
-
Vista Proppants Emerges from Bankruptcy; Rebrands as V SandCo LLC
-
Gulfport Energy Emerges from Bankruptcy
-
HighPoint Resources' Bankruptcy Plan Approved by the Courts
-
HighPoint Files Chapter 11 Ahead of Merger with Bonanza Creek
United States News >>>
-
Petrus Resources Ltd. First Quarter 2023 Results
4.jpg&new_width=60&new_height=60&imgsize=false)
-
Battalion Oil Corporation First Quarter 2023 Results
5.jpg&new_width=60&new_height=60&imgsize=false)
-
Amplify Energy Corporation First Quarter 2023 Results -
-
Denbury Inc., First Quarter 2023 Results
-
Evolution Petroleum Corporation Fiscal Third Quarter 2023 Results
