Energy & Exploration Partners $1 billion Chapter 11 debt restructuring

Overview:

• Energy & Exploration Partners, an oil and gas group, filed for Chapter 11 bankruptcy in December 2015.
• This was, in part, due to a decrease in commodity prices.
• In January 2016,  the U.S. Bankruptcy Court for the Northern District of Texas approved a $40 million debtor-in-possession term loan for Energy & Exploration Partners.
• The Cayman Islands Branch of Credit Suisse acted as agent for the senior secured lenders.
• The company emerged from bankruptcy in March 2016 and reduced its debt by $1 billion. 

Rani Mehta - Journalist