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BRIEF-Pyxus Secures Commitment Of $206.7 Million In Debtor-In-Possession Financing

Published 2020-06-15, 06:49 a/m

June 15 (Reuters) - Pyxus International Inc PYX.N :

* PYXUS INTERNATIONAL, INC. ANNOUNCES COMPREHENSIVE AGREEMENT TO DELEVERAGE BALANCE SHEET AND POSITION COMPANY FOR LONG-TERM GROWTH

* PYXUS INTERNATIONAL INC - SECURES COMMITMENT OF $206.7 MILLION IN DEBTOR-IN-POSSESSION FINANCING

* PYXUS INTERNATIONAL INC - PREPACKAGED PLAN EXPECTED TO REDUCE DEBT BY MORE THAN $400 MILLION

* PYXUS INTERNATIONAL INC - COMMENCES PREPACKAGED CHAPTER 11 PROCEEDINGS IN U.S. BANKRUPTCY COURT FOR DISTRICT OF DELAWARE TO IMPLEMENT RESTRUCTURING

* PYXUS INTERNATIONAL INC - CHAPTER 11 PROCESS DOES NOT INCLUDE INTERNATIONAL SUBSIDIARIES OR AFFILIATES

* PYXUS INTERNATIONAL - SECOND LIEN NOTEHOLDERS WILL CONVERT ABOUT $635 MILLION OF DEBT INTO EQUITY OR CASH

* PYXUS INTERNATIONAL - FIRST LIEN NOTEHOLDERS WILL EXTEND MATURITY DATE OF EXISTING NOTES BY 4 YEARS

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