Martin Midstream Looks To Restructure $323M In Debt

By Rick Archer (June 26, 2020, 7:46 PM EDT) -- Texas oil and gas transporter Martin Midstream Partners on Friday said it has entered into an agreement for an out-of-court restructuring of $323 million in debt.

In an announcement Friday, Martin said the restructuring proposal has the support of the holders of 62% of unsecured notes due in 2021 and was being undertaken to increase the company's "financial flexibility" in the face of "macroeconomic and social challenges."

"The restructuring support agreement demonstrates the confidence our bondholders have in our leadership team and the vision we have for the company," CEO Ruben Martin said in the announcement.

The Texas-based company provides water...

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