RESTRUCTURING

摘要

Oil-and-gas producer linn energy has filed for Chapter 11 bankruptcy, becoming one of the biggest victims of the global commodity rout, and announced it has reached an agreement with senior creditors to recapitalise the company. Under the plan with creditors, Linn will spin off Berry Petroleum Co, acquired in 2013 for US$4.3bn to create one of the largest independent energy producers. Linn said its restructuring support agreement reached with its senior creditors would include a new US$2.2bn reserve-based term loan and a term loan credit facility.