Vantage Drilling $2.6 billion Chapter 11 restructuring

Overview:

• Vantage Drilling has undergone a $2.6 billion Chapter 11 bankruptcy restructuring.
• The offshore oil rig operator emerges from debt after filing for Chapter 11 protection in December 2015.
• The company will now be known as Vantage Drilling International.
• Part of the financing to exit bankruptcy came from Vantage's private $826 million debt offering. 
• The restructuring plan had been approved in January 2016.
• The Royal Bank of Canada acted as the first lien revolving credit facility agent.

Kurt Stumpo - Journalist