May 1, 2018 / 10:00 AM / 5 months ago

BRIEF-Gibson Brands Reaches Restructuring Support Agreement To Reorganize Around Core Businesses

May 1 (Reuters) - Gibson Brands Inc:

* GIBSON BRANDS REACHES RESTRUCTURING SUPPORT AGREEMENT TO REORGANIZE AROUND CORE BUSINESSES

* GIBSON BRANDS INC - TRANSACTIONS TO BE EFFECTUATED THROUGH PRE-NEGOTIATED CHAPTER 11 FILINGS

* GIBSON BRANDS INC - SECURED $135 MILLION IN DEBTOR IN POSSESSION FINANCING

* GIBSON BRANDS - REACHED "RESTRUCTURING SUPPORT AGREEMENT" WITH HOLDERS OF MORE THAN 69.0% IN PRINCIPAL AMOUNT OF 8.875% SENIOR SECURED NOTES DUE 2018

* GIBSON BRANDS INC - GIBSON INNOVATIONS BUSINESS, WHICH IS LARGELY OUTSIDE OF U.S. AND INDEPENDENT OF MUSICAL INSTRUMENTS BUSINESS, WILL BE WOUND DOWN

* GIBSON BRANDS - WIND-DOWN OF GI BUSINESS IS NOT EXPECTED TO IMPACT REORGANIZATION AROUND ITS CORE MUSICAL INSTRUMENTS/PRO AUDIO BUSINESS

* GIBSON BRANDS - ALVAREZ AND MARSAL IS SERVING AS GIBSON'S CHIEF RESTRUCTURING OFFICER Source text for Eikon: Further company coverage:

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