February 2, 2017 / 12:15 PM / 2 years ago

REFILE-BRIEF-Vanguard Natural files for bankruptcy

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Feb 2 (Reuters) - Vanguard Natural Resources Llc -

* Vanguard Natural Resources Llc files for Chapter 11 protection

* Company has obtained a committed $50 million debtor-in-possession (“dip”) financing facility

* Company has obtained a committed $50 million debtor-in-possession financing facility

* Vanguard Natural Resources says entered into a restructuring support agreement with certain consenting holders of 7.875% senior notes due 2020

* Eliminate about $708 million in debt under company’s reserve-based credit facility and senior unsecured debt

* Filed motions seeking authority to pay expenses associated with production operation and drilling and completion activities

* Vanguard Natural Resources says entered into a restructuring support agreement with certain consenting holders of 8 3/8% senior notes due 2019

* Entered into restructuring support agreement with consenting holders of 7.0% senior secured second lien notes due 2023

* DIP financing, cash from operations, to provide sufficient liquidity during chapter 11 cases to support continuing business operations

* Through RSA transactions, to eliminate about $708 million in debt under co’s reserve-based credit facility, senior unsecured debt Source text for Eikon: Further company coverage:

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