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Gulf Keystone Petroleum $575 million financial restructuring

13/10/2016
Bond/note restructuring, Financial restructuring, Scheme of arrangement
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$ 575 million

Announced

13/10/2016

Overview:

  • Gulf Keystone Petroleum has undergone a $575 million financial restructuring.
  • The restructuring was enacted via English law scheme of arrangement and included a debt for equity swap and an issue of new notes.

Jurisdictions:

Bermuda
Iraq

Deal types:

Bond/note restructuring
Financial restructuring
Scheme of arrangement

Practice areas:

Capital markets : Debt
Restructuring and insolvency

Industry sector:

Oil and gas

Firms:
Akin Gump Strauss Hauer & Feld

Party: Committee of bondholders (Bondholders)

Lawyer: James Terry

Paul Hastings

Party: Gulf Keystone Petroleum (Issuer)

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