M*Modal Lands Restructuring Deal To Cut Debt By $350M
The plan would allow the company to revitalize its capital structure and has the backing of 66 percent of its creditors, according to court papers. Secured lenders would swap their debt for 93 percent equity in the reorganized M*Modal and $8.2 million in cash.
Unsecured creditors will split...
To view the full article, register now.