February 21, 2018 / 7:39 PM / 10 months ago

BRIEF-CGG Finalizes The Implementation Of Its Financial Restructuring Plan

Feb 21 (Reuters) - CGG :

* CGG: FINALIZES THE IMPLEMENTATION OF ITS FINANCIAL RESTRUCTURING PLAN

* CGG - FOLLOWING COMPLETION, CO NOW BENEFITS FROM RESTORED BALANCE SHEET WITH LEVEL OF GROSS FINANCIAL DEBT REDUCED TO ABOUT $1.2 BILLION​

* CGG - NET FINANCIAL DEBT / EBITDAS 2017 RATIO ESTIMATED TO BE LESS THAN 2X, IMMEDIATELY AFTER COMPLETION OF TRANSACTIONS

* CGG - ‍ ISSUED $663.6 MILLION OF FIRST LIEN SECURED SENIOR NOTES DUE 2023 FOR BALANCE OF SECURED LOANS TAKING INTO ACCOUNT UPFRONT PAYDOWN OF $150 MILLION​ Source text for Eikon: Further company coverage:

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