September 10, 2019 / 10:13 PM / 5 days ago

Weatherford tweaks Ch. 11 plan with $400 mln cut for notes

Weatherford International PLC on Tuesday filed a proposed order for approving a revised reorganization plan that reduces the amount of debt the oilfield services giant will issue to help it emerge from bankruptcy by $400 million.

In papers filed in U.S. Bankruptcy Court in Houston, Weatherford said it now aims to issue $2.1 billion in new unsecured notes rather than $2.5 billion in debt as it had initially planned.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2kG7NYf

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below