Verso $2.8 billion Chapter 11 restructuring

Overview:

• Coated paper producer Verso has undergone Chapter 11 proceedings to restructure its $2.8 billion debt.
• In addition to restructuring its debt, Verso obtained a $775 million debtor-in-possession financing package.
• Verso's bankruptcy filing shortly followed the close of its acquisition of former competitor NewPage.

Kurt Stumpo - Journalist