March 7, 2018 / 10:32 PM / 3 months ago

Pacific Drilling seeks truce with noteholders, proposes mediation

Bankrupt drillship operator Pacific Drilling said on Tuesday it is willing to enter into mediation with the noteholders that it has been warring with and hopes to produce a business plan next month to guide its reorganization.

The plan will take into account valuation estimates that irate noteholders have been seeking since talks began in May on how to potentially restructure the Luxembourg-based company’s finances, which include roughly $3 billion in debt.

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