Weatherford International announces amended plan, that upon exit from bankruptcy the company will have access to additional financing, according to filing.
- Additional financing in form of:
- ‣ undrawn first lien exit revolving credit facility of at least $600m
- ‣ Up to $2.1b of single tranche of new senior unsecured notes with a five-year maturity
- ‣ New senior unsecured notes will consist of $500m of new takeback notes and up to $1.6b in new financing
- Amount of new senior unsecured notes, up to $2.1b, represents a reduction of $400m in aggregate principal amount of unsecured notes compared to what was contemplated ...