Posts

Showing posts from May, 2017

Nuverra Environmental Solutions. Inc 2021 Notes

Image
Nuverra Environmental Solutions, Inc. (Nuverra) provides environmental solutions to customers focused on the development and production of oil and natural gas from shale formations. The Company's environmental solutions include delivery, collection, treatment, recycling, disposal of water, wastewater, waste fluids, hydrocarbons, and restricted solids that are part of the drilling, completion, and production of shale oil and natural gas.
Nuverra filed Chp 11 on May 1st with a pre-pack associated with its Restructuring Support Agreement between the Company and holders of 100% of the existing term loan debt, and approximately 86% of the Company's 2021 Notes (Supporting Noteholders).  
Nuverra's prepetition debt structure consisted of a $24.6m ABL Facility (unimpaired), a $80m Term Loan, 2021 Noteholders, and 2018 Noteholders.
Voting for the plan commenced on April 28th and ends May 26th with the Supporting Noteholders in favor of the plan. Holders of the 2018 also expect to vote…