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BRIEF-A. M. Castle & Co commences voluntary Chapter 11 case

June 19 A. M. Castle & Co

* A. M. Castle & Co commences voluntary chapter 11 case and files prepackaged joint chapter 11 plan of reorganization

* Am castle - bankruptcy court will consider plan, which is expected to enable co to complete its financial restructuring later this summer

* A. M. Castle - plan deleverages co's balance sheet by exchanging about $200 million of existing second lien notes, third lien notes for new common stock in reorganized co

* A. M. Castle & Co. - plan provides for a new senior-secured exit financing facility

* A. M. Castle & Co. - plan provides for issuance of new second lien secured notes in consideration of a capital infusion of up to $40 million

* A. M. Castle & Co. - plan deleverages balance sheet by exchanging about $200 million of existing second lien notes

* A. M. Castle - plan deleverages existing second lien notes, third lien notes for new stock in reorganized co, certain new convertible second lien secured notes

* A. M. Castle - all of existing equity interests in company will be extinguished

* A. M. Castle - allowed general unsecured claims and all creditors who are unimpaired under plan will receive a complete recovery Source text for Eikon: Further company coverage:

我们的标准: 汤森路透“信任原则

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