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Valaris files for chapter 11 as part of financial restructuring

Offshore driller Valaris has entered into a binding restructuring support agreement (RSA) and backstop commitment agreement (BCA) with around 50% of its noteholders which will see it undergo a financial restructuring while under chapter 11. Valaris says the restructuring is to reduce its debt load substantially, support continued operations during the current offshore slump and …

WP_Post Object ( [ID] => 229533 [post_author] => 74 [post_date] => 2020-08-20 03:20:26 [post_date_gmt] => 2020-08-20 03:20:26 [post_content] =>

Offshore driller Valaris has entered into a binding restructuring support agreement (RSA) and backstop commitment agreement (BCA) with around 50% of its noteholders which will see it undergo a financial restructuring while under chapter 11. Valaris says the restructuring is to reduce its debt load substantially, support continued operations during the current offshore slump and …

[post_title] => Valaris files for chapter 11 as part of financial restructuring [post_excerpt] => Offshore driller Valaris has entered into a binding restructuring support agreement (RSA) and backstop commitment agreement (BCA) with around 50% of its noteholders which will see it undergo a financial restructuring while under chapter 11. Valaris say... [post_status] => publish [comment_status] => open [ping_status] => closed [post_password] => [post_name] => valaris-files-for-chapter-11-as-part-of-financial-restructuring [to_ping] => [pinged] => [post_modified] => 2020-08-20 03:20:26 [post_modified_gmt] => 2020-08-20 03:20:26 [post_content_filtered] => [post_parent] => 0 [guid] => https://splash247.com/?p=125855 [menu_order] => 0 [post_type] => news [post_mime_type] => [comment_count] => 0 [filter] => raw )