Brief: Cyxtera Files Plan Of Reorganization And Provides Business Update For The Second Quarter 2023

Cyxtera Technologies

07/08/2023 16:35

Aug 7 (Reuters) - Cyxtera Technologies Inc  CYXTQ.PK :
    * CYXTERA FILES PLAN OF REORGANIZATION AND PROVIDES BUSINESS
UPDATE FOR THE SECOND QUARTER 2023
    * CYXTERA TECHNOLOGIES INC: REACHES AGREEMENT WITH LENDERS
TO
OPTIMIZE CAPITAL STRUCTURE AND REDUCE PRE-FILING FUNDED DEBT BY
MORE THAN $950 MILLION
    * CYXTERA TECHNOLOGIES INC - NEGOTIATIONS AROUND SALE
ALTERNATIVE
REMAIN ACTIVE, WITH FINAL BIDS DUE AUGUST 18, 2023
    * CYXTERA TECHNOLOGIES INC - NEGOTIATIONS AROUND SALE
ALTERNATIVE
REMAIN ACTIVE, WITH FINAL BIDS DUE AUGUST 18, 2023
    * CYXTERA TECHNOLOGIES INC - FINAL BIDS FROM INTERESTED
PARTIES IN
SALE PROCESS ARE DUE ON AUGUST 18, 2023
    * CYXTERA TECHNOLOGIES INC - COMPANY HAS RECEIVED MULTIPLE
QUALIFIED BIDS TO DATE
    * CYXTERA TECHNOLOGIES INC -  PRELIM TOTAL REVENUE INCREASED
BY
$14.9 MILLION, OR 8.1% YEAR OVER YEAR, TO $199.0 MILLION IN Q2
    * CYXTERA TECHNOLOGIES INC SEES TRANSACTION ADJUSTED EBITDA
INCREASED BY $6.4 MILLION, OR 10.7% IN Q2
    * CYXTERA TECHNOLOGIES INC - HAS RECEIVED MULTIPLE QUALIFIED
BIDS
TO DATE
    * CYXTERA - IN EITHER RECAPITALIZATION OR SALE SCENARIO,
REMAINS
ON TRACK TO EMERGE FROM COURT-SUPERVISED PROCESS NO LATER THAN
FALL OF THIS YEAR

Source text for Eikon:  ID:nBw4KvxsFa 
Further company coverage:  CYXTQ.PK