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BRIEF-Cirque Du Soleil Entertainment Group Announces Comprehensive Plan To Restart Business

Published 2020-06-29, 02:19 p/m
© Reuters.

June 29 (Reuters) - CIRQUE DU SOLEIL ENTERTAINMENT GROUP:

* CIRQUE DU SOLEIL ENTERTAINMENT GROUP ANNOUNCES COMPREHENSIVE PLAN TO RESTART BUSINESS

* CIRQUE DU SOLEIL ENTERTAINMENT GROUP - FILES TO RESTRUCTURE UNDER COMPANIES' CREDITORS ARRANGEMENT ACT

* CIRQUE DU SOLEIL ENTERTAINMENT GROUP - ENTERS INTO A "STALKING HORSE" PURCHASE AGREEMENT WITH EXISTING SHAREHOLDERS AND INVESTISSEMENT QUÉBEC

* CIRQUE DU SOLEIL ENTERTAINMENT - UNDER PURCHASE AGREEMENT SPONSORS WOULD ESTABLISH 2 FUNDS TOTALING US$20 MILLION

* CIRQUE DU SOLEIL ENTERTAINMENT GROUP - US$20 MILLION TO PROVIDE ADDITIONAL RELIEF TO IMPACTED EMPLOYEES AND INDEPENDENT CONTRACTORS

* CIRQUE DU SOLEIL ENTERTAINMENT - UNDER TERMS OF PROPOSED PURCHASE AGREEMENT, SPONSORS TO INJECT US$300 MILLION OF LIQUIDITY INTO RESTRUCTURED BUSINESS

* CIRQUE DU SOLEIL ENTERTAINMENT- AS PART OF US$300 MILLION, INVESTISSEMENT QUÉBEC TO PROVIDE US$200 MILLION IN DEBT FINANCING TO SUPPORT PROPOSED ACQUISITION

* CIRQUE DU SOLEIL - ANNOUNCED TERMINATION OF EMPLOYMENT OF ABOUT 3,480 EMPLOYEES PREVIOUSLY FURLOUGHED IN MARCH

* CIRQUE DU SOLEIL ENTERTAINMENT- AGREEMENT PROVIDES CO'S SECURED CREDITORS WITH US$50 MILLION OF UNSECURED, TAKEBACK DEBT, 45% EQUITY STAKE IN RESTRUCTURED CO

* CIRQUE DU SOLEIL ENTERTAINMENT- AGREEMENT ALSO PROVIDES CO'S SECURED CREDITORS REPAYMENT OF INTERIM LOAN MADE BY SOME FIRST LIEN LENDERS OF US$50 MILLION

* CIRQUE DU SOLEIL - RESIDENT SHOWS IN LAS VEGAS AND ORLANDO ARE EXPECTED TO RESUME BEFORE REST OF CO'S SHOWS

* CIRQUE DU SOLEIL ENTERTAINMENT GROUP - UNDER PURCHASE AGREEMENT SPONSORS TO BUY ALL OF CO'S ASSETS, FOR A COMBINATION OF CASH, DEBT & EQUITY

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