FTS International Announces Amended RSA, Launch of Comprehensive Prepackaged Restructuring Plan with the Support of 87.55% of Secured Debt Claims
FTS International, Inc. Class A (FTSI)
Last fts international, inc. class a earnings: 4/29 06:15 pm
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US:NYSE Investor Relations:
ftsi.com/investor-relations/default.aspx
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Source: Business Wire
Restructuring will Delever Balance Sheet and Immediately Position Company for Long-Term Success, with No Expected Disruption to Customers, Services, Vendors, or Employees FORT WORTH, Texas--(BUSINESS WIRE)--FTS International, Inc. (NYSE American: FTSI) (“FTSI” or the “Company”) today announced that it has entered into a second amended and restated restructuring support agreement (the “RSA”) with creditors holding approximately 87.55% of the principal amount outstanding of the company’s secured debt (collectively, the “Consenting Creditors”) and intends to file voluntary cases under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas on September 22, 2020 (the “Court”).To implement the restructuring set forth in the RSA, the Company commenced solicitation of votes on the Company’s prepackaged chapter 11 plan of reorganization (the “Plan”) from the holders of the Company’s 6.250% senior secured notes due 2022 (the “Secured Notes”) an
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