Alkegen has signed a restructuring deal with lenders that will provide new funding and reduce its debt by about $3.1 billion. The injection of fresh capital and balance-sheet deleveraging should improve near-term liquidity and credit risk, though it comes via a lender-driven restructuring. The net impact is likely meaningful for the company’s equity and credit profile.
Alkegen has signed a restructuring deal with lenders that will provide new funding and reduce its debt by about $3.1 billion. The injection of fresh capital and balance-sheet deleveraging should improve near-term liquidity and credit risk, though it comes via a lender-driven restructuring. The net impact is likely meaningful for the company’s equity and credit profile.
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mildly positive
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