Wed 10/27/2021 12:32 PM
Glass Mountain Pipeline is drawing closer to obtaining 100% support for its restructuring support agreement, as sponsor BlackRock has offered to pay lenders a 22.5 bps incentive fee if all lenders consent to the proposal, according to sources.
Achieving unanimous approval would enable the company to transact the restructuring out of court, the sources said.
While lenders holding roughly 80% of GMP’s loans had indicated support for the RSA, three lenders, including a member of the...
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