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STS - Vanguard Natural Resources Highlights - April 11, 2019
Vanguard Natural Resources filed for Chapter 11 on April 1, marking its second bankruptcy since the 2014 oil crash. The company has obtained a committed $130 million debtor-in-possession financing, which contemplates $65 million in new money, up to $20 million of which will become immediately available upon bankruptcy court approval, and $65 million of which will roll up obligations in respect of revolving loans under the company’s existing credit......
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