Boart recapitalisation approved

CREDITORS have approved the recapitalisation that will get Boart Longyear off the hook for about US$196 million of unsecured debt but will slash non-Centerbridge shareholders’ stakes in the drilling equipment and services provider from 35% to just 2%.

Boart recapitalisation approved Boart recapitalisation approved Boart recapitalisation approved Boart recapitalisation approved Boart recapitalisation approved

Boart Longyear debt deal closer to being done.

The recapitalisation plan still needs to be approved at Boart’s annual general meeting to be held on June 13 and a second court hearing for the creditors’ schemes to be held on July 4.

loader