Chaparral Energy gets proposed commitment for up to $100m offering

On 23 May 2016, Chaparral Energy received commitment from banks to provide it funding of $100m as part of the restructuring process.

Chaparral would continue to engage with all its lenders to achieve an agreement on terms of its restructuring.

The company provided a version of its restructuring proposal to certain members of an ad hoc committee of unsecured noteholders but after evaluating, the noteholders rejected the proposal.

It appears that the terms of the consensual restructuring may or may not involve an equity offering.

Source: Reuters

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