Thu 08/19/2021 18:06 PM
Restructuring negotiations between Glass Mountain Pipeline’s major stakeholders including lenders to its $300 million L+450 bps term loan B due 2024 and its shareholders to recapitalize the business have gained momentum recently, according to sources. The recent iteration of the restructuring proposal, which has yet to be finalized, involves a $42.5 million cash infusion from shareholders BlackRock and Navigator, plus $67 million of new take-back debt to be provided to lenders in exchange...
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