US contractor Superior Energy Services this week filed for a pre-packaged restructuring following a debt-swap plan with some of its noteholders, which would work to eliminate some $1.3 billion in debt. The Houston-based oilfield services company gained the support of holders of around 85% of its $1.3 billion senior unsecured notes for the move. As part of the agreement, filed in a Houston federal court and awaiting approval, the noteholders would receive 100% of the equity to be issued and outstanding by the reorganised company.
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