2023-05-15 06:41:48 ET
Venator Materials ( NYSE: VNTR ) said Monday it reached agreement with lenders and noteholders on a recapitalization plan to be implemented through a prepackaged Chapter 11 bankruptcy in the U.S.
The recapitalization will be financed by a debtor-in-possession financing facility, which includes a commitment for $275M in new-money financing from the company's creditors.
Venator's ( VNTR ) business is expected to operator as normal during the bankruptcy; its stock is expected to be delisted from the NYSE and continue trading over the counter.
More on Venator Materials:
- Financial and valuation comparisons with sector peers
- Analysis: Venator Materials: Insolvency Seems Just Around The Corner
- Stock price return: Down 56.5% YTD, down 85% in the past 12 months
For further details see:
Venator Materials files for Chapter 11 bankruptcy