Ditech Holding Corporation Enters Into Restructuring Support Agreement
DITECH HOLDING CORP (DHCP)
US:NYSE Investor Relations:
investor.walterinvestment.com
Company Research
Source: PR Newswire
FORT WASHINGTON, Pa., Feb. 11, 2019 /PRNewswire/ -- Ditech Holding Corporation ("Ditech Holding") (OTC Pink: DHCP) today announced that it, along with certain of its subsidiaries including Ditech Financial LLC and Reverse Mortgage Solutions, Inc. (collectively with Ditech Holding, the "Company"), has entered into a Restructuring Support Agreement (the "RSA") with certain lenders holding more than 75% of Ditech Holding's term loans (the "Consenting Term Lenders"). The RSA provides for a restructuring of the Company's debt while the Company continues to evaluate strategic alternatives. Under the RSA, the Company will pursue a recapitalization that deleverages its capital structure by extinguishing over $800 million in corporate debt, and a liquidity enhancing transaction that includes an appropriately sized working capital facility at emergence. As contemplated by the RSA, the Company simultaneously continues to consider a broad range of options, including but not limited to potential t
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