March 1, 2018 / 10:27 PM / 3 months ago

BRIEF-Paperworks Announces Finalization Of Deleveraging And Recapitalization Transaction

March 1 (Reuters) - Paperworks Industries Inc:

* PAPERWORKS INDUSTRIES, INC. ANNOUNCES FINALIZATION OF DELEVERAGING AND RECAPITALIZATION TRANSACTION

* PAPERWORKS INDUSTRIES INC - ‍RECAPITALIZATION SUPPORTED BY 98.7% OF NOTEHOLDERS AND REDUCED DEBT BY 70%​

* PAPERWORKS INDUSTRIES INC - CO’S NEW CAPITAL STRUCTURE CONSISTS OF A $114 MILLION TERM-LOAN DUE IN FEBRUARY 2023, INCLUSIVE OF $70 MILLION OF NEW CAPITAL​

* PAPERWORKS INDUSTRIES INC - PROPOSED RESTRUCTURING REDUCED COMPANY’S FUNDED INDEBTEDNESS BY APPROXIMATELY $280 MILLION Source text for Eikon: Further company coverage:

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