Brief: Rosehill Resources And Rosehill Operating Company Enter Restructuring Support Agreement With Creditors

Rose Hill Acquisition

01/07/2020 12:24

July 1 (Reuters) - Rosehill Resources Inc  ROSEU.O :
    * ROSEHILL RESOURCES INC. AND ROSEHILL OPERATING COMPANY,
LLC
ENTER INTO RESTRUCTURING SUPPORT AGREEMENT WITH CERTAIN OF THEIR
CREDITORS
    * ROSEHILL RESOURCES INC - RSA CONTEMPLATES THAT ROSEHILL
WILL
FILE VOLUNTARY CASES UNDER CHAPTER 11 OF UNITED STATES
BANKRUPTCY CODE
    * ROSEHILL RESOURCES INC - FILING OF CHAPTER 11 CASES IS
EXPECTED
TO BE MADE ON OR BEFORE JULY 15, 2020
    * ROSEHILL RESOURCES - RSA CONTEMPLATES CO WILL ENTER INTO
PROPOSED $17.5 MILLION JUNIOR CONVERTIBLE DEBTOR IN POSSESSION
DELAYED DRAW TERM LOAN FACILITY
    * ROSEHILL RESOURCES INC - EXPECTS TO EMERGE FROM BANKRUPTCY
WITHIN 75 DAYS OF FILING
    * ROSEHILL RESOURCES INC - RSA PROVIDES THAT, PURSUANT TO
PLAN,
COMPANY'S CLASS A COMMON STOCK AND OTHER COMMON EQUITY
SECURITIES WILL BE EXTINGUISHED
    * ROSEHILL RESOURCES INC - ANNOUNCING AN AGREEMENT FOR A
CONSENSUAL RESTRUCTURING AMONG COMPANY'S MAJOR CREDITORS
    * ROSEHILL RESOURCES INC - BELIEVE THAT RESTRUCTURING WILL
RESULT
IN A SIGNIFICANTLY DELEVERAGED COMPANY

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