Brief: Garrett Motion Consensual Plan Of Reorganization Receives Court Approval

Garrett Motion. (Delaware)

23/04/2021 17:31

Garrett Motion Inc  G02.F :
    * GARRETT MOTION CONSENSUAL PLAN OF REORGANIZATION RECEIVES
COURT
APPROVAL
    * GARRETT MOTION INC - CHAPTER 11 EMERGENCE IS EXPECTED ON
APRIL
30
    * GARRETT MOTION INC - PLAN RECEIVES 'OVERWHELMING SUPPORT'
OF ALL
VOTING CLASSES
    * GARRETT MOTION INC -  HAS ALSO OBTAINED $1.55 BILLION OF
COMMITTED DEBT FINANCING
    * GARRETT MOTION - PLAN SETTLES EXISTING LITIGATION WITH
HONEYWELL
AND RESTRUCTURES FINANCIAL OBLIGATIONS TRANSFERRED TO GARRETT AT
TIME OF ITS SPINOFF
    * GARRETT MOTION INC - OBTAINED $1.55 BILLION OF COMMITTED
DEBT
FINANCING, INCLUDING $1.25 BILLION-EQUIVALENT TERM LOAN AND NEW
$300 MILLION EXIT REVOLVING FACILITY
    * GARRETT MOTION INC - PLAN RECEIVED SUPPORT OF HONEYWELL,
OFFICIAL CREDITORS COMMITTEE AND OFFICIAL EQUITY COMMITTEE

Source text for Eikon:  ID:nBw88mxK5a 
Further company coverage:  G02.F