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Frontera Holdings Enters into Restructuring Support Agreement for Pre-Arranged Plan of Reorganization to Reduce Debt by Approximately $800 Million and Strengthen Balance Sheet


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MISSION, Texas, Feb. 3, 2021 /PRNewswire/ Frontera Holdings LLC (Frontera or the Company) announced today that it has entered into a Restructuring Support Agreement (RSA) with approximately 97 percent of its term loan lenders, 100 percent of its noteholders, and its 100 percent equity holder, through which most of the Company s debt will be converted into equity and the current term loan and revolving credit facility lenders will become the new owners of the Company. To advance this process, the Company has filed voluntary petitions for reorganization under chapter 11 of the U.S. Bankruptcy Code before the U.S. Bankruptcy Court for the Southern District of Texas. ....

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