Contra Costa, California (PRWEB) June 27, 2022 The San Francisco employment law attorneys, at Blumenthal Nordrehaug Bhowmik De Blouw LLP, filed a class
Alaris could delist from the JSE as part of R500 million buyout offer defenceweb.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from defenceweb.co.za Daily Mail and Mail on Sunday newspapers.
Valaris Successfully Completes Restructuring
Improves Liquidity Position by Receiving $520M Capital Injection
Valaris Limited ( Valaris or the Company and together with its subsidiaries, the Valaris Group ) today announced that, on April 30, 2021, the Valaris Group has successfully completed its financial restructuring and emerged from chapter 11. The Valaris Group s Plan of Reorganization (the Plan ) was approved and confirmed by the United States Bankruptcy Court for the Southern District of Texas on March 3, 2021. Valaris now moves forward with a strengthened capital structure, eliminating $7.1B of debt and securing a $520M capital injection by issuing $550M of new secured notes maturing in 2028. As of April 30, 2021, Valaris had $615M of available cash, $40M of restricted cash and $550M of debt.
Valaris Limited has emerged from Chapter 11 bankruptcy.
Valaris Limited (NYSE: VAL) emerged from Chapter 11 bankruptcy on April 30, 2021, eliminating $7.1 billion of debt, the offshore drilling contractor reported Monday.
Last week Valaris CEO and President Tom Burke indicated the reorganization would end soon. The U.S. Bankruptcy Court for the Southern District of Texas approved and confirmed the Valaris Group subsidiary’s reorganization plan on March 3, 2021, Valaris noted Monday in a written statement emailed to Rigzone.
The company
“Today marks an important milestone as the company emerges from Chapter 11 with a significantly strengthened capital structure,” Burke commented Monday. “The overwhelming support of our noteholders, bank lenders, and voting shareholders has been invaluable. I want to thank everyone for their continued confidence in our business.”