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Nine Energy Service Takes Action to Strengthen Capital Structure and Position Company for Future Growth
Nine Energy Service aims to complete its debt restructuring within 45 days using a voluntary prepackaged plan supported by its lenders to minimize operational disruption.
- Nine Energy Service sought court approval for a voluntary prepackaged restructuring plan supported by the company's lenders.
- Backed by a negotiated plan, the filing aims to reorganize obligations through a prepackaged plan, which the company opted for to implement a voluntary reorganization.
- Lenders backed the filing, enabling the prepackaged approach, with strong support from the company's lenders underpinning the prepackaged structure and choice to seek court approval.
- 9 Energy Service expects to emerge from restructuring within 45 days, and the court's approval is needed for this short timeline.
- If approved, the lender-backed prepackaged plan seeks to resolve claims quickly and aims to complete a negotiated reorganization within 45 days, pending court approval.
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33 Articles
Denton Record-Chronicle+32 Reposted by 32 other sources
Nine Energy Service Takes Action to Strengthen Capital Structure and Position Company for Future Growth
Seeks approval of voluntary prepackaged restructuring plan with strong support from lenders, expects to emerge from process within 45 days
·Denton, United States
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Total News Sources33
Leaning Left1Leaning Right1Center17Last UpdatedBias Distribution90% Center
Bias Distribution
- 90% of the sources are Center
90% Center
C 90%
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