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LONE - Lonestar Resources Enters Into A Restructuring Support Agreement
Lonestar Resources US Inc Com
Lonestar Resources (LONE) announced a restructuring support agreement that will eliminate its bond debt and preferred shares. While the elimination of the $28 million per year in bond interest will help the company's competitiveness, it may still have future problems due to a high remaining amount of debt. There doesn't appear to be any new money coming into Lonestar, and the company's current credit facility debt (less paydown from the monetization of hedges) is being rolled into a new first-out secured credit facility and a second-out term loan facility.