Brief: Curo Group Holdings Corp. To Reduce Debt And Strengthen Financial Position Through Restructuring Support Agreement; Implements Prepackaged Restructuring Plan By Commencing Voluntary Chapter 11 Reorganization

Curo group

25/03/2024 14:59

March 25 (Reuters) - CURO Group Holdings Corp  CURO.PK :
    * CURO GROUP HOLDINGS CORP. TO REDUCE DEBT AND STRENGTHEN
FINANCIAL POSITION THROUGH RESTRUCTURING SUPPORT AGREEMENT;
IMPLEMENTS PREPACKAGED RESTRUCTURING PLAN BY COMMENCING
VOLUNTARY CHAPTER 11 REORGANIZATION
    * CURO GROUP HOLDINGS CORP - RESTRUCTURING PLAN EXPECTED TO
REDUCE
DEBT BY ABOUT $1 BILLION
    * CURO GROUP HOLDINGS CORP - SECURES $70 MILLION IN
DEBTOR-IN-POSSESSION FINANCING
    * CURO GROUP HOLDINGS CORP: ALL CURO BRANCHES ARE OPEN AND
OPERATING AS USUAL; CUSTOMER LOANS UNAFFECTED
    * CURO GROUP HOLDINGS CORP - RSA SUPPORTED BY MORE THAN 74%
OF
EACH OF 1L LENDERS, 1.5L NOTEHOLDERS AND 2L NOTEHOLDERS
    * CURO GROUP HOLDINGS CORP: EXPECTS TO EMERGE FROM
RESTRUCTURING
PROCESS IN NO LATER THAN 120 DAYS
    * CURO GROUP HOLDINGS CORP - CUSTOMER LOANS ARE UNAFFECTED
BY
FILING

Source text for Eikon:  ID:nBw3jtM4Xa 
Further company coverage:  CURO.PK 

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