Permian Resources Llc:
* Permian Resources announces consensual and transformational restructuring transaction
* Permian Resources Llc – announced that it has entered into a series of definitive agreements with funds
* Permian Resources Llc – agreement provides for purchase of $744 million at closing of newly-issued common equity interests of Pres New Equity Llc
* Permian Resources Llc – in connection with deal, funds have agreed to exchange approximately $325 million of principal amount of co’s indebtedness
* Permian Resources Llc – following transactions, company will be re-named Sable Permian Resources Llc
* Permian Resources Llc – equity financing provides company with $744 million of cash proceeds at closing to execute a multi-year development plan
Source: Reuters.com