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Stock impact report

Klockner Pentaplast gains US court approval for debt restructure plan [Yahoo! Finance]

PJT Partners Inc. Class A (PJT) 
Last pjt partners inc. class a earnings: 4/28 06:50 am Check Earnings Report
Company Research Source: Yahoo! Finance
The approval allows the packaging group to proceed with its financial restructuring and exit the Chapter 11 process. The court-approved plan was developed and funded with the backing of an ad hoc group of the company's first-lien lenders and noteholders. Once the process is completed, kp expects to remove €1.3bn ($1.52bn) of funded debt from its balance sheet and move to new ownership with greater financial flexibility. The restructuring follows a €349m injection of new capital from existing first-lien creditors, which was used to support the company's operations and the court-supervised proceedings. Throughout the process, kp has continued to operate in the ordinary course, including making payments to vendors, suppliers and business partners. All general unsecured claims will be either settled in full or reinstated when the company emerges from Chapter 11. Kirkland & Ellis advised kp as legal counsel, with PJT Partners as investment banker and Alvarez & Marsal as restru Show less Read more
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