Energy XXI (EXXIQ) Announces Entry into Plan Support Agreement with Nearly All Creditor Constituencies
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Energy XXI Enters Into Comprehensive Plan Support Agreement With Key Creditor Groups
November 14, 2016 4:21 PM ESTHOUSTON, Nov. 14, 2016 (GLOBE NEWSWIRE) -- Energy XXI Ltd (OTC: EXXIQ) (Energy XXI or the Company) today announced that it has entered into a plan support agreement (the plan support agreement) with substantially all of the Companys creditor constituencies, including holders of approximately 70% of the Companys secured second lien 11.0% notes, the Official Committee of Unsecured Creditors, the ad hoc group of holders of certain unsecured notes issued by EGC and the ad hoc group of holders of certain unsecured notes issued by EPL. The restructuring contemplated by the plan support agreement is... More
